BOULDER, Colo.--(EON: Enhanced Online News)--VictorOps, the real-time incident management company, today announced the second close of its Series B investment round, now totalling $15 million. In November, the company had announced the first close of the round of $12.2 million led by new investor Shea Ventures along with existing investors Foundry Group and Costanoa Ventures participating.
“We received a lot of interest in our Series B financing”
“We received a lot of interest in our Series B financing,” said Todd Vernon, CEO and Co-Founder, VictorOps. “It became clear that the round was going to be over-subscribed, and we wanted to take our time to choose the right investors to partner with - firms that share our drive to improve the real-time incident management space and displace competitor solutions.”
As the incident management market matures many organizations have become unsatisfied with traditional IT alerting tools and have sought a better, more comprehensive solution. As a result VictorOps not only posted a record year in topline growth, but also saw its win rate over competitor, PagerDuty, soar.
“Progressive customers are looking for more than just paging services - they are looking to increase their software delivery velocity,” said Brad Norris, VP Sales, VictorOps. “As a more comprehensive solution, VictorOps not only helps teams resolve incidents faster, but enables companies to reuse information in order to continuously improve and minimize the impact of downtime.”
More generally the Series B funding will help to support the company’s growth and the continued adoption of DevOps among enterprise level companies.
For more information visit www.victorops.com.
VictorOps is the real-time incident management platform focusing on incident lifecycle management and collaboration for IT and DevOps teams. The solution combines the power of people and data to solve IT problems in real-time. The VictorOps platform seamlessly orchestrates team situational awareness, incident creation, escalation, notification, and remediation with team members regardless of physical location or time of day. Privately held, VictorOps is backed by Costanoa Venture Capital, Shea Ventures and Foundry Group. For more information, visit www.victorops.com and follow the company on Twitter @VictorOps.