RESEARCH TRIANGLE PARK – The Triangle-area startup InsightFinder, founded and led by CEO Dr. Helen Gu, a professor at North Carolina State University, has raised nearly $10 million in equity in a Series A funding round.

The funding includes investment from Triangle-area investors IDEA Fund Partners and the Triangle Tweener Fund, according to a statement from the company.

In addition to the new funding, the company shared that it has experienced record growth.  The company provides a mechanism for enterprises to predict and prevent outages of information technology infrastructure that is built on InsightFinder’s patented technology.

“What’s unique about InsightFinder is that we help customers predict and prevent IT outages before they happen vs. having to put out IT fires after they start,” said Gu in the statement.

The company has recently introduced “distributed federated learning, which provides deep insights associated with edge computing in different locations and apps without incurring high data transmission costs,” according to the statement.  InsightFinder notes that this solution can reduce costs as well as prevent outages of IT infrastructure.

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Anticipated growth is coming

An SEC filing from the company notes a total of $9,913,972 raised in the round, and follows about $7 million in other prior funding between February 2018 and July 2021.

“A $10M raise in this economic environment is a strong indicator for the great potential of the InsightFinder technology,” said Lister Delgado, managing partner at IDEA Fund Partners.  “The InsightFinder platform is truly unique, and it is in high demand by companies managing very large, as well as small networks.”

A spokesperson for the company told WRAL TechWire confirmed that Delgado is a member of the company’s board of directors.

“This round should help the company grow significantly,” said Delgado.  “I am excited for this next phase.”

InsightFinder adds to leadership team, increased revenues 3X in 2021

Part of that growth includes plans to hire additional talent, the company’s statement noted.  The company had previously added to its leadership team, bringing on two executives from ScienceLogic earlier this year.  There are currently five open roles listed on the company’s website.

The company supports AWS, Google Cloud, and Microsoft Azure and other on-premise and hybrid-cloud environments, it said in the statement.  In 2020, the company saw a tripling of revenue growth and was awarded an NSF Small Business and Innovation grant for its machine learning technology and auto remediation, according to prior reporting from WRAL TechWire.

And along with anticipated growth, the company moved to a new headquarters office in Research Triangle Park “to accommodate a fast-growing team,” the statement noted.

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