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As companies’ server infrastructure grows, they often run into challenges keeping tabs on the health of their various assets, like their cloud and local data centers. Monitoring tools, also known as observability tools, can help — but lots of tools can become overwhelming. According to one survey, seven in 10 organizations believe that monitoring is made at least somewhat more challenging by “tool sprawl.”
To combat said tool sprawl, Jie Song and Steve Francis founded LogicMonitor, which sells software-as-a-service tools to monitor on-premises and cloud environments.
Owned by private equity firm Visa Equity Partners since 2018, LogicFirm on Wednesday announced that it raised $800 million from investors including PSG and Golub Capital. The funding round, which values the LogicMonitor at $2.4 billion inclusive of debt, brings the company’s total raised to around $942 million.
Bloomberg earlier reported the deal.
“In short, AI needs data centers and data centers need LogicMonitor,” Christina Kosmowski, LogicMonitor’s CEO, said in a statement. “We are the connective tissue between AI and data center performance as we have the muscle, pedigree, and, most importantly, the data insights to advance the most important and life-altering AI initiatives.”
Kyle Wiggers is a senior reporter at TechCrunch with a special interest in artificial intelligence. His writing has appeared in VentureBeat and Digital Trends, as well as a range of gadget blogs including Android Police, Android Authority, Droid-Life, and XDA-Developers. He lives in Brooklyn with his partner, a piano educator, and dabbles in piano himself. occasionally — if mostly unsuccessfully.
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