AI Monitoring Solutions provider Virtana secured $73 Million in funding

Virtana, a San Jose based provider of AI-driven monitoring solutions for hybrid cloud management, has now secured $73 million in funding.

Virtana was founded by Kash Shaikh. It offers a platform for managing application workloads across the hybrid, public, private and multi-cloud environments.  With the help of Artificial Intelligence for IT Operations (AIOps) technologies which include advanced data analytics and machine learning, the cloud-agnostic platform offers intelligent observability into which workloads to migrate. 

AI startup also makes sure that unexpected performance and cost degradation are avoided once workloads are operating in the cloud. It enables enterprises to speed up cloud adoption and reduce cloud operating costs by simplifying the management of their IT environments.

Josh Ufberg, Partner at Atalaya Capital Management LP, said, "Atalaya believes that Virtana offers a suite of mission-critical products to provide differentiated solutions for its customers and channel partners. We are excited to partner with Virtana and support the team's efforts in growing its platform".

Mark Schachter, a Managing Partner of Elm Park Capital Management, said, "Virtana's team has built a leading SaaS-based hybrid cloud management platform to monitor, optimize and migrate mission-critical infrastructure and applications for some of the largest, most complex IT environments at the forefront of digital transformation. Kash Shaikh and the executive leadership team have a track record of building value and trust with customers, and we look forward to partnering with the team and helping drive further adoption."

The lastest funding round was backed by Elm Park Capital Management, Atalaya Capital Management, Benhamou Global Ventures, and HighBar Partners.

The AI firm, as of now, has plans to use the new funds to scale up the growth, support the continued innovation in the AIOps industry. The AI startup further intends to bolster its position within the $30 billion IT operations management software market.