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Friday, 21 January 2022 10:05

Monq raises $1.5 million seed round

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Developer for enterprises Monq Lab raises $1.5 million seed round led by Veeam co-founder Ratmir Timashev, which will fund marketing and sales expansion in North America and Europe and the Middle East.

According to an Allied Market Research report, the AIOps market is projected to be worth $644 billion by 2026, with a growth rate of 20-30% per year.

Monq addresses the needs of enterprises by offering a root-cause analysis and incident management platform.

The company provides AIOps topology-based automation platform that analyses data from different monitoring systems, automatically discovers topology, controls application and infrastructure health, provides rapid root cause analysis, and starts incident remediation processes built on a low-code engine.

The product has a flexible, open and, extensible architecture. This allows customers to build their own integration or use an existing one.

Take business processes and services health data from Dynatrace, Instana, AppDynamics or use synthetic tests. Users can discover the topology in less than three minutes from VMware vCenter or Kubernetes, and instantly link it to a modern infrastructure monitoring tool such as Zabbix, Prometheus or DataDog.

This gives IT pros a complete health map of all IT layers and quick root cause analysis for incidents.

Fifty percent lower downtime and 84% fewer user complaints increases the efficiency o

Monq’s AIOps automation platform’s 50% lower downtime and 84% fewer user complaints increases the efficiency of root-cause analysis and IT incidents by 70-95%.

Built for Site Reliability Engineers (SRE), DevOps and IT operations teams, Monq’s technology helps tvisualise the digital health of a business and enable fast resolution of IT issues.

Monq Free Community Edition is a free version of its flagship product.

"I am very excited to work with Nikolay and his talented team, who have created a huge opportunity to become the #1 AIOps provider, with a simple, yet powerful platform. AIOps has become a very large and fast-growing market, disrupting traditional IT Ops by removing the silos between many legacy and modern tools. Now companies of any size can deploy AIOps and reap the benefits with Monq free Community Edition,” comments Veeam lead investor Ratmir Timashev.

“Dispatching, like detection, classification, localisation, prioritisation, routing and elimination control will be handled by AIOps systems rather than dozens of engineers in front of hundreds of monitor screens. This change in the industry can be compared to the transition from the manual labour of telephonists in the early 20th century to a PBX with automatic dialling,” concludes Monq CEO and founder Nikolay Ganyushkin.

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Kenn Anthony Mendoza

Kenn Anthony Mendoza is the newest member of the iTWire team. Kenn is also a contributing writer for South China Morning Post Style, and has written stories on Korean entertainment, Asian and European royalty, Millionaires and Billionaires, and LGBTQIA+ issues. He has been published in Philippine newspapers, magazines, and online sites: Tatler PhilippinesManila BulletinCNN Philippines LifePhilippine StarManila Times, and The Daily Tribune. Kenn now covers all aspects of technology news for iTWire.com.

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