SAN FRANCISCO & TEL AVIV, Israel--(BUSINESS WIRE)--New Relic, Inc. (NYSE: NEWR), provider of real-time insights for software-driven businesses, today announced that it has acquired SignifAI, an event intelligence company specializing in artificial intelligence (AI) and machine learning (ML). New Relic intends to bring SignifAI’s technology to market, offering modern software teams advanced technology to predict and address performance issues, so they can deliver exceptional customer experiences. SignifAI’s open data platform integrates with modern DevOps solutions to provide richer insight to software teams so they can detect issues early, reduce alert noise, and deliver highly available and reliable software at scale. The terms of the deal were not disclosed.
“To deliver reliable software at scale, DevOps teams need to leverage machine learning to help them predict and detect issues early and reduce alert fatigue,” said Lew Cirne, CEO and founder. “What’s really exciting about SignifAI’s open platform is that it sits above a customer’s existing set of monitoring tools. With more than 60 integrations ranging from open source and commercial monitoring tools to popular services found in many DevOps toolchains, SignifAI automates correlation and enriches incident context so that software teams can get answers quickly during incidents and ultimately reduce mean time to resolution. This technology aligns with our current platform offering and we believe it provides us a unique advantage to solve an important problem for our customers.”
As modern systems become increasingly complex, the incident response process has become more complex, too. With microservice architectures, containers, and serverless technologies, companies face issues of cascading failures and alert noise. SignifAI delivers AI and ML-powered correlations for Software Engineering teams, so they receive:
- Faster mean time to resolution (MTTR) with automatic correlation, aggregation and prioritization of alerts to help teams focus on what matters most.
- Automated predictive insights and recommended solutions to resolve issues faster.
- Efficient root cause analysis, with automatically enriched issues containing all the relevant logs, events and metrics that teams need, regardless of the timeframe.
“We started SignifAI to help DevOps teams see and make sense of their operational data, from alerts to change events, regardless of source,” said Guy Fighel, who served as CTO and co-founder of SignifAI. “The team at New Relic shares our vision for bringing machine intelligence capabilities to businesses building and operating modern software and we are thrilled to join forces to accelerate and execute on our joint vision for customers.”
Founded in 2016, SignifAI was started by a team of technologists who wanted to solve for the alert noise and fatigue that they faced in previous technical roles. With deep background and expertise in site reliability engineering (SRE), the team has been dedicated to using intelligence to drive operations excellence. The SignifAI team will continue to work from offices in Sunnyvale, California and Tel Aviv, Israel.
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This press release contains “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to the intention of New Relic to bring SignifAI’s technology to market and the potential benefits to customers of the SignifAI product as well as any benefits of the purchase and integration of SignifAI by and into New Relic. The achievement or success of the matters covered by such forward-looking statements are based on New Relic’s current assumptions, expectations, and beliefs and are subject to substantial risks, uncertainties, assumptions, and changes in circumstances that may cause New Relic’s actual results, performance, or achievements to differ materially from those expressed or implied in any forward-looking statement. Further information on factors that could affect New Relic’s financial and other results and the forward-looking statements in this press release is included in the filings New Relic makes with the SEC from time to time, including in New Relic’s most recent Form 10-Q, particularly under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Copies of these documents may be obtained by visiting New Relic’s Investor Relations website at http://ir.newrelic.com or the SEC's website at www.sec.gov. New Relic assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
About New Relic
New Relic provides the real-time insights that software-driven businesses need to innovate faster. New Relic’s cloud platform makes every aspect of modern software and infrastructure observable, so companies can find and fix problems faster, build high-performing DevOps teams, and speed up transformation projects. Learn why more than 50% of the Fortune 100 trust New Relic at newrelic.com.
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