InsightFinder Snares $2M Pre-Series A Funding
NEW YORK, NY, Intelligent analytical engine provider for cloud computing, has successfully raised $2M pre-series A funding.
InsightFinder Inc., an intelligent analytical engine provider for cloud computing, has successfully raised US$2M pre-series A funding led by Eight Roads Ventures. The Propel(x) Network also participated in the funding. Proceeds will be used to expand sales, marketing, and customer support teams.
InsightFinder is a New York-based start-up with additional offices in Raleigh, North Carolina and Shanghai, China. The company provides a unique and patent-pending anomaly prediction technology based on unsupervised machine learning algorithm. The analytical engine is able to predict both known and unknown anomalies ahead of time, so that IT personnel can take actions to prevent or minimize the impact of IT problems.
The company already partners with 15 companies in healthcare, telecommunications, and finance sectors. It is planning to further develop its customer base among those sectors.
Helen Gu, CEO of InsightFinders said, "InsightFinder's technology helps our clients quickly identify problems to ensure system performance and service availability. Most importantly, it allows us to diagnose their causes, so that they can be rectified swiftly and safely."
North Carolina State's Office of Technology Commercialization and New Ventures filed for a patent on the technology back in 2013. Gu, the NC State computer science faculty, said the system has been upgraded over the years and InsightFinder has filed patents on newly developed technology. "We have now incorporated automated processes that can begin taking steps to address potential problems as quickly as they are identified. We're talking about a matter of seconds between seeing a problem and responding," she added.
Back in 2015, InsightFinder received a Small Business Innovation Research (SBIR) grant from the National Science Foundation. In 2017, it was awarded a highly-competitive Phase II SBIR grant from the same institution.
Joe Chang, Partner at Eight Roads Ventures is a strong believer in the market potential of InsightFinder, he said: "We are thrilled to be investors in InsightFinder. We were impressed with their distinctive approach in using multi-variant analytics to extract insights far faster beyond what competing solutions and human data scientists can achieve, enabling them to identify patterns and issues before they happen and without as much need for human oversight."
He continued: "We were particularly impressed with the strong feedback from InsightFinder's customers who tell us they are pushing the envelope on the true predictive analytics that allow them to identify problems before they happen and give them a chance to prevent or prepare for them, when the rest of the industry is still focused on monitoring and reacting to problems only as they happen."
"InsightFinder's breakthroughs in unsupervised behavior learning (UBL) dramatically improves an enterprise's ability to intelligently predict and prevent system anomalies and disruptions," said Lisheng Wang, co-founder of Propel(x). "Since first meeting Dr. Gu through the National Science Foundation, we've been impressed with the power of her vision and execution of the team. We're proud to be part of InsightFinder's journey to create a scalable solution for intelligent analytics and IT/network management."
InsightFinder provides innovative machine learning technology to unlock the value in IT operational data, from performance metrics to textual log files, finding root causes for deviations from normal behaviors and recurring patterns, as well as predicting future events and outages, involving your staff only when necessary and appropriate to do so. InsightFinder's core technologies and patent-pending solutions are available via online subscription or on-premise deployment.
About Eight Roads
Eight Roads Ventures is a global venture capital firm that backs entrepreneurs with aspirations for greatness. As the proprietary investment arm of Fidelity International Limited, Eight Roads is committed to building bold and meaningful businesses and together with its associated funds has invested in over 200 consumer, enterprise technology, fintech and healthcare companies across Asia, US and Europe. These companies include Alibaba, Appsflyer, AsiaInfo, China PnR, Cloudian, Icertis, iSoftStone, Kensho, Letgo, Made.com, Neo4j, Nuance, Ping Identity, Prosper, Recurly, Securonix, Threat Stack, WuXi and Xoom. www.eightroads.com
Propel(x) is an online investment platform capitalizing deep technology. Propel(x) connects investors to industry experts and deep tech startups. Startups featured on the platform are pioneering innovations such as new forms of clean energy, life-saving treatments, new methods of space exploration, and artificial intelligence, amongst others. As the premier platform for deep tech innovation, Propel(x) seeks to change the world by building the next generation of great companies.
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