Appnomic, the providers of a self-healing technology for IT operations, on Wednesday announced a $22 million round led by Avataar Ventures, as well as the appointment of high-tech veteran, Nitin Kumar, to the chief executive officer (CEO) post.
In addition, the company has named Cuneyt Buyukbezci as the chief marketing officer (CMO) and Girish Muckai chief risk officer (CRO). Former CEO, and founder D. Padmanabhan, will be still active in an operating role as the chairman.
Nitin Kumar has previously held leadership roles in startups, enterprises, and management consulting firms, including HP, Deloitte, PwC and FTI.
"Appnomic is years ahead of traditional monitoring, APM, AIOps and Cognitive Operations players because true AI and ML were put into use a long time ago," Kumar said.
"Organisations integrating self-healing systems have a competitive advantage over those that do not. Appnomic has multiple patents in the self-healing domain and continues to innovate in this arena. The new team and I have great plans to scale this business in 2020."
Appnomic offers an AI-enabled self-healing technology.
"Appnomic offers the industry’s first Autonomous IT Operations Software. Avataar is excited about this investment and new team," said Mohan Kumar, managing partner at Avataar Ventures.
"These funds will allow Appnomic to expand its global presence and market reach to enable autonomous business operations, which will save companies a tremendous amount of time and money."
Cuneyt Buyukbezci, the new CMO, has been part of marketing, product strategy, and sales leadership at HP Software, Sun Microsystems, and CA Technologies.
Girish Muckai, the new CRO, brings over 20 years of start-up and large-company experience in commercial roles around SaaS, AI/ML, security, and networking in companies such as Passage AI and Juniper Networks.
First Published: IST