Today, the Opsani leadership team are thrilled to announce that we have raised $10M in Series A financing. This big news has also been covered by TechCrunch. The funding round was led by Redpoint Ventures, joined by early investors Zetta Venture Partnersand Bain Capital.
Things are moving fast here at Opsani. We have a rapidly growing client base; we are doubling in size; and we are continuously optimizing our technology. This funding round will enable us to maintain our up-and-to-the-right trajectory. With this backing, we can continue to expand the team, enhance the Opsani AI engine, and provide value to enterprise cloud-based companies.
When we began our fundraising process, we were fortunate to be overwhelmed with interest from great investors. We decided to partner with Redpoint Ventures, a tier 1 venture capital firm with deep experience in cloud infrastructure software. We are delighted to have Satish Dharmarajjoin the board. Dharmaraj has extensive experience as a two time founder and investor in unicorns including Snowflake, Pure Storage, and Duo Security.
Our CEO, Ross Schibler, is no stranger to the Redpoint family. He incubated his first wildly successful startup, Rapid City, in their “basement”; and Redpoint led the A and B rounds for his second startup, Topspin (acquired by Cisco in 2005).
“Ross and the Opsani team are known entities here at Redpoint,” said Dharmaraj. “So, true to our prioritization of backing great teams, getting behind Opsani’s leaders and its solution was an easy decision. Ross and Peter identified an unmet market need and they’ve devised a novel solution using machine learning. Continuous Optimization of cloud-based applications completes the CI/CD toolset in DevOps.”
Alongside Redpoint, Zetta Venture Partnershave a special expertise in AI-first companies. Jocelyn Goldfein, managing director at Zetta – and previously director of engineering at Facebook – said that Opsani’s application of deep reinforcement learning technology to the performance tuning of an application workload is “a perfect application of AI.”
“When I saw what Opsani was capable of, I knew I’d found something special. This is an incredibly hard and important problem to solve; unique technology that is able to solve it; and an incredible team that I just knew I had to work with.”
With three successful exits between our co-founders, and three top-notch investment teams, we feel we have the dream team in place to pursue our macro goals: revolutionize the cloud optimization landscape, and inspire a transformation in DevOps culture.
The next year is set to be a very exciting one here at Opsani. Come join the team – we’re hiring! We’ll be at KubeConin November, and AWS re:Inventin December. If you’ll be at either of those events, come and say hi. Otherwise, stay tuned for more updates throughout the coming months.