Alicorn invests US$3m in autonomous business monitoring company Anodot

Alicorn Global Ventures has completed an investment of up to US$3m in Anodot, a global software company recently included in Forbes’ Top 20 Machine Learning Startups to Watch. A leading vendor in the fast-expanding AI analytics space, Anodot is helping companies such as Vimeo, Atlassian, and T-Mobile to leverage artificial intelligence to surface business incidents much faster and prevent loss.

Anodot’s 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, Partner 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, VP R&D Shay Lang, and the rest of the Anodot team. It’s another illustration of the wealth of fast-growing, venture capital-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 firm. 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.