New Relic Advances AIOps Strategy with Acquisition of SignifAI

SignifAI provides a leading event intelligence platform that empowers
DevOps teams to dramatically reduce the amount of time spent spotting
issues and identifying root causes

With integrations into more than 60 monitoring tools and popular
services, SignifAI’s open platform correlates related issues and
extracts predictive insights to help DevOps teams take action

SAN FRANCISCO & TEL AVIV, Israel–(BUSINESS WIRE)–New
Relic, Inc.
(NYSE: NEWR), provider of real-time insights for
software-driven businesses, today announced that it has acquired
SignifAI, an event intelligence company specializing in artificial
intelligence (AI) and machine learning (ML). New Relic intends to bring
SignifAI’s technology to market, offering modern software teams advanced
technology to predict and address performance issues, so they can
deliver exceptional customer experiences. SignifAI’s open data platform
integrates with modern DevOps solutions to provide richer insight to
software teams so they can detect issues early, reduce alert noise, and
deliver highly available and reliable software at scale. The terms of
the deal were not disclosed.

“To deliver reliable software at scale, DevOps teams need to leverage
machine learning to help them predict and detect issues early and reduce
alert fatigue,” said Lew Cirne, CEO and founder. “What’s really exciting
about SignifAI’s open platform is that it sits above a customer’s
existing set of monitoring tools. With more than 60 integrations ranging
from open source and commercial monitoring tools to popular services
found in many DevOps toolchains, SignifAI automates correlation and
enriches incident context so that software teams can get answers quickly
during incidents and ultimately reduce mean time to resolution. This
technology aligns with our current platform offering and we believe it
provides us a unique advantage to solve an important problem for our
customers.”

As modern systems become increasingly complex, the incident response
process has become more complex, too. With microservice architectures,
containers, and serverless technologies, companies face issues of
cascading failures and alert noise. SignifAI delivers AI and ML-powered
correlations for Software Engineering teams, so they receive:

  • Faster mean time to resolution (MTTR) with automatic
    correlation, aggregation and prioritization of alerts to help teams
    focus on what matters most.
  • Automated predictive insights and recommended solutions to
    resolve issues faster.
  • Efficient root cause analysis, with automatically enriched
    issues containing all the relevant logs, events and metrics that teams
    need, regardless of the timeframe.

“We started SignifAI to help DevOps teams see and make sense of their
operational data, from alerts to change events, regardless of source,”
said Guy Fighel, who served as CTO and co-founder of SignifAI. “The team
at New Relic shares our vision for bringing machine intelligence
capabilities to businesses building and operating modern software and we
are thrilled to join forces to accelerate and execute on our joint
vision for customers.”

Founded in 2016, SignifAI was started by a team of technologists who
wanted to solve for the alert noise and fatigue that they faced in
previous technical roles. With deep background and expertise in site
reliability engineering (SRE), the team has been dedicated to using
intelligence to drive operations excellence. The SignifAI team will
continue to work from offices in Sunnyvale, California and Tel Aviv,
Israel.

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Forward-Looking Statements

This press release contains “forward-looking” statements, as that term
is defined under the federal securities laws, including but not limited
to the intention of New Relic to bring SignifAI’s technology to market
and the potential benefits to customers of the SignifAI product as well
as any benefits of the purchase and integration of SignifAI by and into
New Relic. The achievement or success of the matters covered by such
forward-looking statements are based on New Relic’s current assumptions,
expectations, and beliefs and are subject to substantial risks,
uncertainties, assumptions, and changes in circumstances that may cause
New Relic’s actual results, performance, or achievements to differ
materially from those expressed or implied in any forward-looking
statement. Further information on factors that could affect New Relic’s
financial and other results and the forward-looking statements in this
press release is included in the filings New Relic makes with the SEC
from time to time, including in New Relic’s most recent Form 10-Q,
particularly under the captions “Risk Factors” and “Management’s
Discussion and Analysis of Financial Condition and Results of
Operations.” Copies of these documents may be obtained by visiting New
Relic’s Investor Relations website at http://ir.newrelic.com
or the SEC’s website at www.sec.gov.
New Relic assumes no obligation and does not intend to update these
forward-looking statements, except as required by law.

About New Relic

New Relic provides the real-time insights that software-driven
businesses need to innovate faster. New Relic’s cloud platform makes
every aspect of modern software and infrastructure observable, so
companies can find and fix problems faster, build high-performing DevOps
teams, and speed up transformation projects. Learn why more than 50% of
the Fortune 100 trust New Relic at newrelic.com.

New Relic is a registered trademark of New Relic, Inc.

All product and company names herein may be trademarks of their
registered owners.

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Contacts

Media Contact
Andrew Schmitt
New Relic, Inc.
415-869-7109
pr@newrelic.com

Investor Contact
Tony Righetti
New Relic, Inc.
503-336-9280
IR@newrelic.com

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