San Francisco-based Moogsoft, a provider of IT operations analytics, has raised $30 million in Series C funding from an investment syndicate that includes Northgate Capital, SingTel Innov8, Cisco Investments, Redpoint, Wing Venture Capital and Singapore Technologies Telemedia.
Moogsoft is an enterprise software solutions provider that automates IT support functions. Some of its customers include Cisco, the Royal Bank of Canada, Yahoo, and GoDaddy, who use Moogsoft to transform and automate their incident management processes across their production stack.
Moogsoft said, the $30 million Series C investment occurred over two phases of an oversubscribed financing round, with new investor Northgate Capital leading the first phase of the round. They were joined by new investor SingTel Innov8 and existing investors Cisco Investments, Redpoint, Wing and other equity holders.
Singapore Technologies Telemedia (ST Telemedia) led the second phase of the round with participation from HCL Technologies. The funding comes as the company surpassed its growth goals for the most recent fiscal year, and it will be used to fuel the expansion of Moogsoft’s global operations in Europe, Asia and the Americas.
The involvement of HCL Technologies is a strategic investment, according to its executive VP Anand Birje, who explained that the investment represented a strategic interest in partnering with Moogsoft. He credited the investment as enabling HCL to “…bring richer operational analytics to our customer’s digital transformations.”
Georg Mende, Principal at Northgate Capital, which led the investment, shared: “Moogsoft employs innovative technology and approaches to address the challenges of managing hyper-converged IT infrastructure. The company’s new solution has already gained traction with several lighthouse clients.” He added, “This is an investment from our Innovations Partnership platform backed by strategic investors from around the globe.”
“Moogsoft is validated by blue chip enterprises and major service providers with massive, web-scale, complex IT architecture,” said Nikhil Eapen, Chief Strategy & Investment Officer of ST Telemedia.