When you combine a brilliant founder with multiple industry-defining successes under his belt with an idea capable of leapfrogging the very industry he helped create, you know you have an exciting investment. Then, when you add the fact the company is bringing the power of Big Data to solve the challenges enterprises are facing as they manage a mix of legacy on-premise software stacks and cloud services, you know you have a very exciting investment.
That sums up why I’m thrilled about our Series A investment in Moogsoft, a company that is bringing the power of big data to the critical IT service management industry in a tremendously compelling way. Moogsoft’s founder, Phil Tee, needs no introduction to people familiar with the world of IT infrastructure and management. As the creator of the technologies that form the foundations of IBM Tivoli Netcool, Tee and his team are known for singlehandedly designing the software that monitors more than 90% of the worlds IP networks today.
With Moogsoft, Tee and his team are thinking big yet again about the very same problems that motivated them decades ago – but with a novel approach for today’s market and today’s customer. With businesses struggling to cost efficiently manage their overwhelming IT infrastructures as they shift to newer technologies, the time and costs associated with management have become major challenges. By applying Moogsoft’s software which exploits the latest innovations in Big Data and Natural Language Processing, their customers are already seeing reduction in costs and increases in efficiency of their staffs – and finding real value.
Redpoint couldn’t be more excited about the opportunity ahead for the Moogsoft team and we’re proud to welcome them to the Redpoint portfolio.