Rootly, a San Francisco, CA-based company that offers an incident management platform, raised $12 million in Series A funding, bringing its total funding to date to $15.2 million ($20M CAD).
The round was led by Renegade Partners, with participation from Google Gradient Ventures (Google’s AI-focused venture fund) and XYZ Ventures.
The company will use the funding to accelerate Rootly’s product roadmap, increase its global engineering presence, and invest in sales and marketing to meet steep market demand for its solution.
“While working at Instacart, my co-founder and I discovered an urgent need for a better way to manage incident response. Instacart was losing millions of dollars in orders due to outages, and our customers and retailers were frustrated,” said JJ Tang, co-founder and CEO of Rootly. “The need to automate became especially acute during the pandemic, when Instacart was providing an essential service and uptime was critical. Engineers need more than paper checklists for incident management—they need immediate context on previous incidents, help looping in the right people fast, and a way to keep others updated without answering dozens of individual messages. Rootly combined all of that into one and made it enterprise-grade and scalable for any size company.”
By automating various aspects of incident management and resolution, Rootly aims to streamline the process and improve efficiency. The platform's features include coordinating responders within Slack, suggesting guided next steps, and leveraging GenAI technology to identify related incidents, automate status updates, and generate retrospective analyses.
Company: Rootly, Inc.
Raised: $12.0M
Round: Series A
Funding Month: August 2023
Lead Investors: Renegade Partners
Additional Investors: Google Gradient Ventures (Google’s AI-focused venture fund) and XYZ Ventures
Company Website: https://rootly.com/
Software Category: Incident Management Software
About the Company: Rootly offers an enterprise-grade incident management platform to help accelerate incident resolution. Rootly’s simple and configurable platform can be set up in 10 minutes, and with 50+ integrations, it automates manual admin work such as paging responders, incident creation, tracking action items and metrics, stakeholder communication, and generating retrospectives. The AI-powered platform learns over time, helping companies understand the root cause of incidents so they can be prevented in the future.
Source: https://www.globenewswire.com/news-release/2023/08/10/2722767/0/en/Rootly-Raises-12M-to-Help-Enterprise-IT-Teams-Resolve-Incidents-80-Percent-Faster.html