extends funding round with investments from UBS Next and Wells Fargo Strategic Capital
Summary
Strategic Venture Arms of UBS and Wells Fargo Fuel Further Growth of BigPandas Industry-Leading AIOps PlatformSAN FRANCISCO, August 17, 2022 BigPanda, Inc., the leader in AIOps Event Correlation and Automation, today announced an extension of the funding round the company announced in January, with new investments from existing customers UBS and Wells Fargo. Through UBS Next, were excited to build on our relationship with BigPanda, continuing to drive digital disruption and innovation, and delivering a client experience that is personalized, relevant, on-time and seamless.Modern IT operations are becoming increasingly complex as organizations transition from legacy on-premise infrastructure into multi-cloud environments, which calls for multiple observability tools that generate their own alerts, said Mike Brady, head of Technology Infrastructure for Wells Fargo. Without BigPanda, IT Ops, NOC, and DevOps teams struggle with a tsunami of data and highly-manual, reactive incident response processes that are poorly suited for the scale, complexity and velocity of modern IT environments. This results in painful outages, unhappy customers, growing IT headcount and the inability to focus on innovation.BigPandas AIOps Event Correlation and Automation platform helps Fortune 5000 enterprises such as Intel, Cisco, United, Abbott, Marriott and Expedia take a giant step towards Autonomous IT Operations. The unit is responsible for enabling innovation across UBS to find new and effective ways to engage clients and deliver premier services using the latest technologies.
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