REDWOOD CITY — Anodot, an autonomous business monitoring company, says it has secured an additional $35 million in Series C funding, bringing total capital raised to $62.5 million.
Intel Capital led the series C fund, along with support from SoftBank Ventures Asia, Samsung NEXT and La Maison. Existing investors Disruptive Technologies L.P., Aleph and Redline Capital Management also participated. Intel Capital Investment Director Roi Bar-Kat is joining Anodot’s Board of Directors.
Over the past year, Anodot says it has doubled its revenue and serving around 100 customers – including Atlassian, Xandr, T-Mobile, UPS, Bird, Vimeo and Nordstrom. The company is further expanding into telco and fintech markets.
“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.”
“Today’s organizations are facing unprecedented market uncertainty, and many are struggling to achieve visibility into business incidents that cost money, impact third-party tools and platforms, and diminish customer experience,” said David Drai, CEO and co-founder of Anodot. “Anodot takes a new approach to business monitoring. By focusing on autonomous monitoring at a granular level, we’re able to deliver the right results in real time to help organizations take immediate action, avoid losses and stay on top of business success, especially in times of economic turbulence. We look forward to leveraging this new capital, and the experience of our investors, to further advance our platform, to expand our team, and to better help organizations effectively identify and address business incidents.”