Intel Capital Leads Investment to Support Go-To-Market Activities and Global Expansion
Anodot, the autonomous business monitoring company, announced that it has raised $35 million in Series C funding, bringing the company’s total funding to $62.5 million. Intel Capital led the round along with participation from SoftBank Ventures Asia, Samsung NEXT, and La Maison. Existing investors Disruptive Technologies L.P., Aleph, and Redline Capital Management also participated.
Read More: GlobalFintechSeries Interview with Tim Kelly, CEO & Founder at BitOoda
.@TeamAnodot Raises $35M in Series C Funding to Drive Autonomous Business Monitoring for Telcos and Digital Businesses
Organizations are increasingly concerned with identifying and addressing business incidents in real time, particularly as markets and global conditions change. With Anodot’s autonomous monitoring approach, top-tier organizations can monitor business metrics, including revenue and costs, partners, and customer experience.
To take advantage of the $30 billion business analytics market, Anodot leverages unsupervised machine learning to monitor an organization’s business metrics and proactively alert on potential issues. Anodot’s powerful platform, through granular monitoring and analytics capabilities, tracks more than 400 million metrics daily, driving four billion autonomous decisions.
“We strongly believe Anodot, with its machine learning-based monitoring solution, is in the position to help organizations save and optimize business costs. Intel Capital has been following Anodot closely and we are excited to see the continued progress of its platform,” said Anthony Lin, vice president and senior managing director of Intel Capital. “Changing market dynamics are going to force companies to become more efficient, and Anodot’s proven ROI model and impressive traction across its enterprise customer base is a game changer.”
Investment Director Roi Bar-Kat led the investment for Intel Capital and will join Anodot’s board of directors.
Anodot is delivering tangible business monitoring benefits to leading organizations, including Atlassian, Xandr, T-Mobile, Bird, and others. For example, with Anodot, a fintech company was able to detect a drop in payment success rate from a specific payment provider and correlate it with a new API version release. After being alerted by Anodot, the company fixed the glitch and saved more than $50,000 on that incident alone. Some of Anodot’s customers estimate millions of dollars in annual cost savings using the platform.
“Temporary market conditions will not set back a future in which businesses will increasingly harness machine learning and autonomous technologies,” said Doug Henschen, vice president and principal analyst of Constellation Research. “These technologies are already being used to provide early warnings about changing business conditions and to act to avoid or mitigate undesirable outcomes. Anodot’s latest round of funding is a vote of confidence in that future.”
Read More: GlobalFintechSeries Interview with Griffin McGahey, President at HC3
