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Israeli AIOps firm Loom Systems to be acquired by ServiceNow

Author : Pankaj Singh | Published Date : 2020-01-27 

California based cloud computing company, ServiceNow, Inc. has reportedly announced its plan to acquire Israel-based AIOps firm, Loom Systems. Through the takeover, ServiceNow looks to add AIOps into its portfolio.

AIOps has become an integral part of IT management. Essentially, it is the application of AI (Artificial Intelligence) to conventional IT operations. AI has a substantial effect on system operations as well as administration, similar to all other domains.

Loom Systems, established 2015 with its registered headquarters located in San Francisco, is the company behind Sophie, an AIOps-powered product that is a log analytics solution that is capable of averting IT incidents before their impact ripples on to the customers.

The tool provides resolutions in simple English to make it easy for the users to understand what is causing the IT incident.

According to reliable resource, Loom, since its launch, has managed to gather $16 million in investment. Most recently, in November of 2019, the company raised over $10 million from venture capital fund, Flint Capital.

The round also saw participation from existing company investors; Meron Capital, JVP, and the 31Ventures Global Innovation Fund, which is managed by venture capital business, Global Brain Corporation.

When AI is applied to operations, it would completely redefine the way through which infrastructure is managed. An extensive amount of data is generated by an IT infrastructure. From an API call’s latency rate to the temperature of chassis, data can be acquired from disparate stack layers.

When normalized, aggregated and analyzed, the collected data becomes a important source that can drive insights.

Prominent IT Operational Management (ITOM) and IT Service Management (ITSM) players are investing in the field of AIOps. VMware recently acquired Nyansa to bring intelligence as well as end-to-end troubleshooting and monitoring capabilities to the VeloCloud-based WAN and LAN deployments.

Through the Loom Systems acquisition, ServiceNow would now be able to analyze consumer data, expedite remediation using automation and reduce the time-consuming manual processes that are involved in solving L1 incidents.
 

Source credit: https://www.forbes.com/sites/janakirammsv/2020/01/26/servicenow-acquires-loom-systems-to-add-aiops-to-its-portfolio/#3de33cf51976

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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