Backed by Altimeter Capital, Sutter Hill Ventures, SignalFire, and Unusual Ventures, Latest Investment Brings Funding to $50.4M
SAN FRANCISCO--(BUSINESS WIRE)--Transposit, the modern engineering operations company for the enterprise, today announced it secured $35 million in Series B funding, bringing total funding to $50.4 million. The investment, led by Altimeter Capital with participation from existing investors Sutter Hill Ventures, SignalFire, and Unusual Ventures, will be used by the company to expand its sales and engineering teams and build out its go-to-market initiatives. In a separate press release today, Transposit announced the next generation of its flagship platform – a unified command center for DevOps, site reliability engineers (SREs), and other on-call engineering teams to better navigate the complexities of incident management and modern operations to achieve greater velocity both during incidents and when operations are running smoothly. As enterprises around the world accelerate their digital transformation initiatives, cloud-native and “everything as a service” applications are proliferating, increasing complexity for on-call operations. By automating workflows to make DevOps and other engineering operations processes actionable, repeatable, and auditable, Transposit eliminates the skills gap between new and experienced employees, democratizes institutional knowledge, and significantly reduces mean time to resolution (MTTR) of incidents.
“Engineering teams today have the challenging task of maintaining availability and performance of increasingly complex systems. Transposit has built an end-to-end platform to empower these teams to manage and automate operational workflows such as incident resolution,” said Pauline Yang, partner at Altimeter Capital. “We are excited to support the world-class team at Transposit as they build a transformational company through delighting customers and innovation.”
The Transposit platform minimizes costly downtime and lets companies innovate freely as their technology stacks evolve. It provides real-time visibility, streamlined communication, automatic documentation, interactive automation, and direct action commands into any system or tool in a technology stack. The platform automates repetitive tasks while keeping humans fully in the loop at key decision points. Built on powerful bi-directional API integration technology, Transposit gives on-call engineering teams the contextual information they need when they need it – in the moment – with the ability to act on it directly within Slack or from a centralized online “mission control”-style dashboard to resolve incidents in real time and easily conduct postmortems.
“With increased adoption of SaaS, managed services, microservices, and API-centric workflows, modern software development has become increasingly complex. Amidst this complexity, many software organizations find that existing tools and ad hoc DevOps processes do not meet their needs; shortcomings with these tools and processes further complicate efforts to efficiently locate and onboard new talent. All this has been exacerbated by the changes that enterprises have made in response to the ongoing COVID-19 pandemic and resultant shift to remote operations,” said KellyAnn Fitzpatrick, Industry Analyst at RedMonk. “Transposit’s offerings are designed to streamline processes by which engineering teams resolve application issues, outages, and latency, all while creating a clear record of events with the aim of preventing future incidents.”
In today’s uncertain economy, inefficient operations and application downtime can do lasting damage or be fatal to a business. A 2019 study found that 96% of global IT decision makers experienced a costly outage in the past three years. In a recent survey of the Fortune 1000, IDC uncovered that the average total cost of unplanned application downtime per year was between $1.25 billion to $2.5 billion. Additionally, the average hourly cost of a critical application failure per hour ranges from $500,000 to $1 million.
“Uptime has never been more critical, yet incident management today is completely broken. We offer a fundamentally different approach that goes beyond the incident to codify proper operating procedures and make them easy to follow and act on in practice through the fusion of automation and human interaction. It’s good for business and for improving the quality of life for on-call engineers. Reliability of systems is all about having repeatable human and machine processes,” said Divanny Lamas, CEO of Transposit. “The new funding gives us the power to bring unity and simplicity to more enterprises grappling with the challenges of managing operations as they modernize their technology stacks.”
Transposit, the modern engineering operations company for the enterprise, increases application uptime and improves quality of life for engineers. Designed for complex stacks, Transposit’s platform provides a single home for operations and incidents that surfaces relevant context across human and machine activities to drive root cause analysis, shrinking mean time to resolution (MTTR). DevOps, site reliability engineers (SREs), and other on-call engineering teams use Transposit’s human-centric workflow automation to increase velocity during incidents and when operations are running smoothly. Transposit gathers all the data engineering teams need and lets them take direct action in any system in the toolchain via Slack or Transposit’s interface with the touch of a button, so they can resolve issues faster with precision. Transposit Mission Control is a unified command center with real-time visibility, streamlined communication, stakeholder dashboards, and searchable, automated documentation. The platform dynamically systematizes processes and serves interactive runbooks to guide incident triage and daily operations, reducing stress, eliminating toil, and ensuring consistency.
Bhava Communications for Transposit