Leading Brands Turn to Moogsoft AIOps to Build Continuous Service Assurance Into Their Digital Transformation Initiatives

Pioneer of AIOps doubles customer base by more than 2X year-over-year

SAN FRANCISCO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/AI?src=hash” target=”_blank”gt;#AIlt;/agt;–Moogsoft,
a pioneer and leading provider of artificial intelligence for IT
operations (AIOps),
announced today that it had completed its fiscal year ending January 31,
2019 with significant milestones – doubling its customer base
year-over-year to more than 120 total customers, including 20 of the
Fortune 1000. The company expanded its AIOps platform with new
innovations to deliver continuous service assurance to its customers as
they accelerate their digital transformation. Marquee customers include
American Airlines, Charles Schwab, DirecTV, Dimension Data, Fannie Mae,
First Data, KeyBank, McAfee, Navy Federal Credit Union, and Qualcomm.

“KeyBank selected Moogsoft based on its proven ability to significantly
impact a number of objectives,” said Mick Miller, Senior DevOps
Architect, Continuous Delivery and Feedback at KeyBank. “We want to
reduce mean time to customer resolution, support our journey to reduce
alert fatigue by reducing event noise down to only actionable alerts,
and use Moogsoft’s best in class Machine Learning and AIOps approach to
IT Operations. Going forward, KeyBank aims to detect critical events
faster and improve team collaboration and workflow – thanks to
Moogsoft’s focus on quality service assurance.”

Moogsoft highlights over the past year include:

  • Strong Year-Over-Year Growth: Total bookings increased 60 percent
    year-over-year, with annual recurring revenue (ARR) also growing by 60
    percent during the period. Moogsoft’s average contract value is
    approaching $0.5M.
  • Accelerated Global Customer Growth: Moogsoft grew its global customer
    base by more than 2X over the past fiscal year. Customers include
    global leaders in a diverse range of industries. Some recent customers
    leveraging Moogsoft AIOps platform include: Bharti Enterprises,
    Deloitte, Johnson & Johnson, Loblaws, Merck & Co., Navy Federal Credit
    Union, NTT, Quest Diagnostics, Uber, and Under Armour.
  • Deepened AIOps Capabilities: Moogsoft announced version
    7.0 of the Moogsoft AIOps
    platform introducing Vertex Entropy and
    Situation Topology Visualization — two innovative AI-based
    technologies that help IT teams understand the root cause of any
    problem impacting customers through a visually rich system topology
    map. Together, Vertex Entropy and Situation Topology Visualization
    provide unparalleled insights into the root cause of any problem and
    full visibility into the complex relationships across IT processes,
    applications, and devices.
  • Strengthened Executive Team: Moogsoft made strategic hires of industry
    veterans focusing on product innovation, customer success, and long
    term growth. These include CFO Raman Kapur, President and COO Amer
    Deeba, SVP of Engineering Ranvir Wadera, SVP of Products Dan Grigsby,
    and CMO Sonu Agarwal.
  • Growing Channel Relationships: Moogsoft expanded key partnerships with
    managed service providers including HCL Technologies, Wipro and Tata
    Consultancy Services. The company signed an OEM partnership with Cisco
    to package AIOps with its Virtual Managed Services (VMS), a service
    creation and delivery platform for managed service providers. Moogsoft
    AIOps was added to the Cisco general price list.
  • Expanded Customer Support and Success Team: Moogsoft launched a global
    services delivery program to onboard new customers and to continue
    supporting existing customers throughout their AIOps Journey. The
    program includes free online training, best practices on AIOps
    implementation and adoption, a named technical account manager, and
    ongoing support and training.
  • Doubled Engineering and Product Teams: To continue supporting customer
    growth and product innovations, Moogsoft doubled its engineering and
    product teams between US, UK, and most recently with the addition of a
    development team in India. This growth allows the company to respond
    to customer demands and deliver new AIOps capabilities with agility
    and quality assurance.

“Today’s digital business depends on continuous innovation and demands
all customer-facing services and applications to be ‘always-on’,” said
Amer Deeba, Moogsoft President and COO. “At Moogsoft we are helping
customers attain this goal by giving them real-time visibility across
all data from their numerous services and applications. This helps to
surface relevant events and automate event-to-resolution workflow,
resulting in earlier detection of incidents, fewer tickets, and happier
customers. New product innovations and strategic partnerships remain a
big focus for us in 2019 and beyond as we continue helping customers
achieve continuous service assurance for their digital transformation
initiatives.”

Other milestones of Moogsoft’s year included securing $40M
in Series D funding
led by Goldman Sachs Growth Equity with
participation from existing investors including HCL, Northgate Capital,
Redpoint Ventures, Singtel Innov8, STTelemedia and Wing VC. In addition,
the company was named one of the best
workplaces by Inc. Magazine
.

Artificial intelligence for IT operations has exploded in recent years,
with roughly 50
percent of enterprises
on track to leverage AIOps technologies by
2020, according to Gartner.

For more information about Moogsoft’s AIOps platform and its newest
addition of customers, visit www.moogsoft.com,
read our Blog
or follow us on Twitter
and LinkedIn.

About Moogsoft

Moogsoft is a pioneer and leading provider of AIOps
solutions
that help IT teams work faster and smarter. With patented
AI analyzing billions of events daily across the world’s most complex IT
environments, the Moogsoft AIOps platform helps the world’s top
enterprises avoid outages, automate service assurance, and accelerate
digital transformation initiatives. Founded in 2011, Moogsoft has more
than 120 customers worldwide including SAP SuccessFactors, American
Airlines, Fannie Mae, Yahoo!, and HCL Technologies. It has established
strategic partnerships with leading managed service providers and
outsourcing organizations including AWS, Cisco, HCL Technologies, TCS
and Wipro. Moogsoft® and the Moogsoft logo are proprietary trademarks of
Moogsoft Inc. All other products or names may be trademarks of their
respective companies.

Contacts

BLASTmedia for Moogsoft
317-806-1900
moogsoft@blastmedia.com

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