US-based IT infrastructure management platform developer OpsRamp completed a $37.5m funding round yesterday that included enterprise technology producer Hewlett Packard Enterprise (HPE).
The round was led by Morgan Stanley Expansion Capital, a division of investment banking firm Morgan Stanley, and also featured Sapphire Ventures, the venture capital firm that invested $20m in OpsRamp in 2017. The company has not disclosed any additional financing.
Founded in 2014, OpsRamp has built a software platform that helps enterprise customers monitor complex hybrid IT resources that mix in-house and cloud-based networks, from a single platform.
The product uses artificial intelligence to monitor processes such as service updates or patch management to ensure operational issues are minimised. OpsRamp has more than 1,400 customers at present and intends to channel the funding into expanding its core platform.
Paul Glaser, head of HPE’s Hewlett Packard Pathfinder investment vehicle, said: “As more of our customers transition to hybrid infrastructure, we find the OpsRamp platform to be a differentiated IT operations management offering that aligns well with the core strategies of HPE.
“With OpsRamp’s product vision and customer traction, we felt it was the right time to invest in the growth and scale of their business.”
