Anodot Announces Record Business Momentum in 2020

REDWOOD CITY, Calif.–(BUSINESS WIRE)–Anodot, the autonomous business monitoring company, is closing out a record 2020 fueled by business milestones inclusive of funding, executive hires coupled with a sizable increase in employee headcount, product innovation and new customer wins. Over the year, Anodot has laid the foundation to scale its business through partnerships with global and local resellers, systems integrators and OEM partners. The company is strategically equipped to support new industries and use cases in its next phase of growth as an AI-powered autonomous business operations company.

Recognized by CRN, a brand of The Channel Company, as a 2020 Emerging Vendor in Big Data and as a finalist in two categories for the annual the Datanami Readers’ Choice Awards: Best Big Data Product or Technology: BI and Analytics as well as Top 5 Vendors to Watch, Anodot has spent the last 12 months focused on helping telco, financial services and digital-first firms monitor their most critical business operations. In 2020 alone, Anodot witnessed a more than 300-percent increase in organic inbound customer traction, further validating that autonomous business monitoring is of utmost value in today’s current landscape. Data-driven companies use Anodot’s patented technology to reduce time to detection and resolution for revenue-critical issues by as much as 80-percent.

“Anodot has enabled Redis Labs to address key CX challenges: visibility, adaptiveness and scale,” said Oren Yaqobi, VP Customer Success at Redis Labs. “Since deploying Anodot, we’ve seen a significant decrease in the number of support tickets and a noticeable boost in customer satisfaction. Many of our customers don’t even know how many issues we resolved before they became a problem.”

Earlier this year, Anodot raised $35 million in Series C funding, bringing the company’s total funding to $65.5 million. The round was led by Intel Capital, along with participation from Softbank Ventures Asia, Samsung NEXT and La Maison. The ability to raise funding in early 2020 amidst a global pandemic is a testament to Anodot’s powerful platform and the increased need of today’s digital business to partner exclusively with technology pioneers that can guarantee tangible business benefits. Operating in what many industry experts project to be a $169 billion big data and business analytics market, Anodot has enhanced its platform capabilities to meet the growing needs of complex business environments. These enhancements include:

• Real-time cloud cost monitoring: designed to signal cloud-related cost alerts, Anodot helps customers manage their cloud costs with real-time anomaly detection alerts so that issues can be remediated quickly.
• 360-degree ad performance monitoring: for customers needing to understand when a given campaign is overspending, underperforming or not operating properly, this feature supports reliability and consistency by monitoring all advertising functions for anomalies in clicks, impressions, conversions, reach, revenue and spend.
• Insights panel: The platform now surfaces high-level insights, such as noisy alerts and feedback distribution, demonstrating clear direct-to-business value.
• New technology integrations: Anodot’s robust integration store now includes the likes of Jira, VictoriaMetrics, ElasticSearch and Splunk, alongside dozens more.

“The pandemic and concomitant recession have underscored the need for real-time insights that enable organizations to pivot quickly and adapt to rapidly changing conditions,” said Wayne Eckerson, president of the Eckerson Group, a research and consulting firm specializing in data analytics. “Fortunately, there are real-time technologies, such as those from Anodot, that intelligently monitor tens of thousands of business-critical metrics, providing organizations with visibility into emerging patterns and anomalies, both large and small, that can significantly impact business outcomes.”

Anodot has also invested significant time and resources to expand its global presence; this includes welcoming key executive and employee hires across its offices. Vishal Rao, president and CEO of Snow Software, was appointed to Anodot’s Board of Directors. Additionally, the company also welcomed Randy Jones as Chief Revenue Officer to support the company in reaching new key markets. In addition, Anodot’s workforce grew by 20-percent to keep up with the growing demand of its platform. There are plans of continued hiring into 2021 in customer success and R&D roles – for more information please visit here.

“The global COVID-19 pandemic accelerated digital transformation, forcing companies to seek out partners that could offer automated, transparent insights into critical business operations,” said David Drai, Anodot CEO and co-founder. “We quickly introduced new capabilities to our platform that could support things such as cost alerts for cloud services and campaign monitoring. Digital-first firms have realized that Anodot’s autonomous business monitoring platform provides the kind of real-time insight into anomalies that could negatively impact revenue, partner ecosystems, and customer satisfaction. The momentum we’ve captured as a business in 2020 will help fuel Anodot’s continued autonomous business monitoring innovation in key target industries such as telco and financial services.”

For more information on Anodot’s milestones throughout 2020, please visit here. And for insight on how Anodot customers and other data-driven decision-makers have and will continue to leverage the company’s autonomous business monitoring platform, the company’s first ever virtual event, Data World, is available to watch on demand.

About Anodot

Anodot’s Business Monitoring platform uses machine learning to constantly analyze and correlate every business parameter, providing real-time anomaly alerts and forecasts in their context. Fortune 500 companies, from digital business to telecom, trust Anodot’s patented technology to reduce time to detection and resolution for revenue-critical issues by as much as 80 percent. Anodot is headquartered in Silicon Valley and Israel, with sales offices worldwide. To learn more, visit www.anodot.com and follow them on LinkedIn, Facebook, and Twitter.