U.S. Markets closed

IT-Operations Management Startup OpsGenie Raises $10 Million in Financing Led by Battery Ventures to Fuel Growth

FALLS CHURCH, VA--(Marketwired - Jun 29, 2016) - OpsGenie, an emerging player in the critical area of IT alerting and on-call management, has raised $10 million in Series A financing from Battery Ventures, a global investment firm. OpsGenie will use the funds to continue to tackle the biggest challenges faced by customers in providing "always-on" services, and specifically to continue investing in its product and building out its go-to-market capabilities. As part of the financing, Battery General Partner Neeraj Agrawal and Battery Vice President Paul Drews will join OpsGenie's board.

The company's products operate against the backdrop of sophisticated, modern datacenters in which a web of "always on" servers, applications and other technology -- some on-premise, and some housed in the cloud -- continuously throw off high-stakes alerts that must be managed by various IT teams. New software development trends like the move to "microservices" and agile development also means software is being developed faster today, which creates more opportunities for mishaps -- and a need to alert the right people to fix software problems. OpsGenie's technology integrates with other key monitoring and ticketing tools to serve as a central repository for this data, and then routes alerts to the appropriate teams and systems.

Teams can even access these alerts through new collaboration tools like Slack and HipChat, then send them to other members who can take action to quickly fix IT problems. OpsGenie's tools -- including a Web interface and a mobile app -- can also manage on-call schedules and escalations.

"OpsGenie integrates with many operations tools and services, and provides flexible, easy-to-use tools to help DevOps and other stakeholders identify that critical applications or services might be down, and figuring out the right people to notify at the right time to prevent costly problems," said Berkay Mollamustafaoglu, OpsGenie's CEO and co-founder. "Today's companies have invested billions of dollars in monitoring tools to detect potential IT problems, but they haven't paid enough attention to how to smartly react to, and address, the flood of alerts they're receiving. OpsGenie is about what happens next."

OpsGenie was founded in 2012 and already has over 1,400 customers around the globe, including Unbounce, SUBWAY® Restaurants, Looker, Bleacher Report, Politico and HubSpot.

"OpsGenie gave my team the work-life balance we were so desperately seeking," said Michael Irwin, manager of client services at Politico. "Before, if you were on-call, you were tied to your email. Now OpsGenie allows us to be on-call, but makes it less invasive for our team."

Added Mike Thorpe, infrastructure squad manager at Unbounce, a leading marketing-tech company: "OpsGenie has a robust alerting and on-call management platform, which allowed us to expand and design our decentralized product-support operation the way we wanted."

Neeraj Agrawal, of Battery, said IT-monitoring has turned into a critical, growing industry with many sub-sectors, including monitoring technologies for servers, applications, websites and databases. "We are excited to partner with Berkay and the OpsGenie team, whose service cuts across all these types of notifications and alerts to deliver critical information to teams quickly," Agrawal said. "The company has made significant progress to date despite only modest spending on marketing -- we think there is a real, pent-up demand for OpsGenie's product, and look forward to fueling the company's growth."

OpsGenie has offices in the Washington D.C. area, Boston and Ankara, Turkey.

About OpsGenie
OpsGenie is an alerting and on-call management solution for development and operations teams. We provide the tools needed to design actionable alerts, manage on-call schedules and escalations, and ensure the right people are notified of IT incidents at the right time, using multiple notification methods.

About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.