Alicorn Global Ventures has completed an investment of $3 million in Anodot.
Recently included in Forbes’ Top 20 Machine Learning Startups to Watch and a leading vendor in the fast-expanding AI analytics space, Anodot is helping companies such as Vimeo, Xandr, Atlassian and T-Mobile to leverage artificial intelligence to surface business incidents much faster and prevent loss.
Anodot Autonomous Business Monitoring leverages patented machine learning algorithms to independently monitor metrics and detect anomalies in real-time, correlating related anomalies across the business – a game-changing capability for companies who operate at scale. Customers use Anodot to reduce their time to detection by as much as 80 percent, consequently safeguarding revenue, minimizing operational costs, and improving customer experience.
Anodot is headquartered in Israel and Silicon Valley, with satellite teams located worldwide, and is entrusted by Fortune 500 companies in finance, telecommunications, and digital enterprise.
“Anodot is at the forefront of an industry shift away from legacy, retrospective analytics into autonomous monitoring in the immediate term, and soon towards advanced forecasting tools. Faced with far more data sources and data volume than ever before, companies struggle to find answers to the same critical commercial questions. Platforms like Anodot, whose root cause analysis immediately links frontline commercial metrics and the underlying IT infrastructure will quickly move from being advantageous to essential,” according to Alexander Assim, Principal at Alicorn. This latest round of funding follows a $35 million investment completed in February and led by Intel Capital, SoftBank Asia, Samsung NEXT, and La Maison, bringing Anodot’s total funding to $65.5 million.
Assim added, “We’re delighted to have been able to complete this deal and look forward to the journey ahead with co-founders CEO David Drai, Chief Data Scientist Ira Cohen, and VP R&D Shay Lang, and the rest of the Anodot team. It’s another illustration of the wealth of fast-growing, VC-backed technology companies coming out of Israel and we continue to believe the market is primed for additional opportunities.”
Alicorn is the London-headquartered venture capital arm of the B Corporation group, Arowana & Co. Anodot represents the second investment in its Israel strategy this year, following its $6 million investment in Glassbox in June. The team’s expertise lies in secondary investments and bespoke primary funding rounds in VC-backed technology companies at a late growth stage. Alicorn works with these companies, their existing venture capital investors, and other stakeholders to facilitate secondary investments to solve liquidity requirements in addition to participating in unique primary rounds.
“As an owner and operator of companies, the Arowana team was deeply impressed with Anodot’s autonomous real-time analytics of business and IT data,” CEO & Founder Kevin Chin said. “We immediately saw the compelling applications for businesses and we’re very pleased to have led this secondary investment in Anodot, and to have been able to welcome new family office co-investors alongside us.”
Arowana is a global B Corporation group that has operating companies and investments across the United Kingdom, South East Asia, Australia, and the United States. Established in 2007, Arowana strives to grow people, companies and value.