Company Developed Cognitive Solution to Disrupt Business Monitoring Market with New Approach to AI and Machine-Learning Technologies
San Francisco and Tel Aviv, May 3, 2017 – Loom Systems, a leading provider of AI-powered log analysis software platform, announced today that it secured $6M in Series A funding led by Israel's leading venture capital firm Jerusalem Venture Partners (JVP), along with Meron Capital and 31Ventures Global Innovation Fund managed by Global Brain Corporations.
The funding will help accelerate Loom Systems’ rapid adoption by expanding sales and marketing, growing international operations and developing the company's partnership ecosystem.
Targeted at DevOps and IT professionals, Loom Systems instantly analyzes logs and semi-structured machine data for immediate visibility into a company’s digital environment. Accelerating the ingestion, detection, analysis and resolution of data, to solve IT and OT problems in real-time, Loom significantly reduces the cost and complexity of working with operational analytics, as well as lowers the need for highly skilled personnel for root-cause analysis and actionable mitigation recommendations through its Tribal Knowledge Bank (TriKB). Loom uses a combination of machine learning technologies to provide predictive insights and a virtual personal assistant recommendation back engine,Sophie. Via on-premises or SaaS deployment, Loom Systems easily generates insights from raw data and with zero configuration or maintenance, including support for homegrown applications.
Since the launch in 2015, Loom Systems has added six OEM and channel partners, and dozens of enterprises to its client base; including Citrix, Amdocs, Clal Insurance, RevTrack, and more. Enterprises use Loom’s built-in cognitive intelligence to instantly analyze logs and semi- structured machine data for immediate visibility into their digital environment.
“Utilizing artificial intelligence, we can find abnormal behavior with remarkable granularity within enormous amounts of data, down to the single event or transaction,” said Gabby Menachem, CEO and founder, Loom Systems. “The benefit of using Loom for data analysis and security is by applying artificial intelligence to remove both the preprocessing humans need to do before they can analyze data, as well as the analysis itself, root-cause investigation and remediation recommendations. These necessary steps typically entail a significant, costly project and is the main reason we see organizations not leveraging data they already have.”
“A monitoring platform needs to be as dynamic and flexible as the IT platform that it's monitoring. With the introduction of hybrid architectures that span from on-premises to cloud and homegrown to third-party apps - only a flexible AI approach like what Loom developed can cope with the task at hand and the huge market that needs these solutions.” said Gadi Tirosh, Managing Partner at JVP. “Using advanced AI and machine learning, Loom Systems is a company that has the opportunity to transform the way business monitoring and log analysis is executed.”
About Loom Systems
Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in San Francisco and Tel Aviv, Loom Systems works with customers across industries. Connect with Loom Systems on Twitter and LinkedIn.
Jerusalem Venture Partners (JVP) is a global venture capital fund out of Jerusalem. Established in 1993, JVP has raised over $1.1 billion across 8 funds, and has been ranked numerous times by Preqin as one of the top-ten consistently performing VC firms worldwide. Among the pioneering firms of the Israeli venture capital industry, JVP has been instrumental in building some of the largest companies out of Israel, facilitating 12 Initial Public Offerings on NASDAQ and numerous industry sales. With a view to building industry leaders, JVP invests in early through growth stages in the spaces of cyber-security, big data, fintech, enterprise software, storage, mobile, media and IoT.
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