November 21, 2019 / 1:07 PM / 18 days ago

BigPanda raises $50 million, to expand R&D in Israel

TEL AVIV (Reuters) - BigPanda Inc, whose platform helps businesses detect and resolve IT outages, said on Thursday it has raised $50 million, bringing its total funding to more than $120 million.

The round was led by Insight Partners, with participation from existing investors Sequoia, Battery Ventures, and Mayfield.

The company’s customers include Intel, Warner Media and Workday.

BigPanda also said it will expand its research and development operations in Israel and recruit 30 new employees in the coming year.

Reporting by Tova Cohen, Editing by Ari Rabinovitch

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