SUNNYVALE, Calif.--(BUSINESS WIRE)--Faros AI, the company behind the Faros Engineering Operations Platform, today announced it has raised $16 million in seed funding led by SignalFire, Salesforce Ventures, and Global Founders Capital with participation from seasoned tech luminaries including Maynard Webb, Frederic Kerrest, Adam Gross, and more. With this investment, Faros AI plans to accelerate its mission of providing engineering teams with unprecedented visibility and insight into their operations across productivity, program management, onboarding, compliance, cost optimization, and more.
With the extreme fragmentation of the software tech stack and acceleration of remote teams, engineering organizations today typically struggle with a lack of visibility into their operations. Bottlenecks in processes take a long time to discover. Hiring more engineers is an expensive solution that often hurts productivity more than it helps. Decisions rely on the loudest voices in the room or gut feel, rather than data. Faros facilitates a data-informed approach to engineering operations by bringing all operational data in one place to give leaders a single-pane view of their entire software development life cycle.
"The Faros AI founding team played a pivotal role in building Salesforce Einstein, the leading enterprise AI platform that helps businesses improve their processes with data and AI. The natural next step was to take it to the next level and build an innovative solution to help engineering teams improve their operations with data and AI,” said Ilya Kirnos, Managing Director & CTO at SignalFire. “Every company spends so much money on engineering so it's obvious there's a huge market for improving efficiency through smarter operations.”
Today, leading engineering organizations such as Box, Coursera, and GoFundMe are unlocking data-driven engineering operations with the Faros platform, using it to gain insights into how their organizational processes and DevOps tool chains impact cycle time, quality, and throughput.
Today, the company is also announcing the general availability of its free open-source Community Edition, Faros CE.
Faros CE lets you get started in under 10 minutes:
- Faros CE is a BI, API, and automation layer for all engineering operational data including source control, task management, incident management and CI/CD data.
- It composes best-of-breed open-source software: Airbyte for data ingestion, Hasura for the API layer, Metabase for BI, and n8n for automation.
- Faros CE is container-based, and is able to run in any environment, including the public cloud with no external dependencies.
"Unlike Sales, Marketing, or Finance, today’s engineering organizations are not very data-driven,” said Vitaly Gordon, CEO of Faros AI. “Faros AI’s mission is to give leaders the ability to easily answer questions about their operations intelligently, based on data that is automatically extracted and synthesized from all possible relevant sources so teams can move fast without breaking things.”
About Faros AI
Faros AI is an engineering operations platform that brings all operational data in one place to give leaders a single-pane view of the entire software development lifecycle. Based in Sunnyvale, CA and backed by leading investors and seasoned tech luminaries, Faros AI is on a mission to help engineering leaders gain unprecedented visibility and insight into their operations with data that is automatically extracted and synthesized from all relevant sources. As a result, teams can ship quality software quickly, efficiently, and reliably. Faros AI is trusted by leading engineering organizations such as Box, Coursera, and GoFundMe. For more information, please visit https://faros.ai.
SignalFire is the first venture capital firm built from the ground up as a technology company. The company invests in leaders with an uncommon passion, offering unprecedented data, advice, and access from seed to scale. With a hybrid technology and people-powered approach, the team is uniquely qualified to help founders navigate the toughest parts of building a company at every stage, including recruiting, expert advice, and a corporate network. Launched in 2013, the firm has nearly $1B in assets under management and has made notable investments in top Silicon Valley startups including Zume, Lyric, Ro, Grammarly, Color Genomics, ClassDojo and Frame.io among others.
About Salesforce Ventures
Salesforce is the fastest growing top five enterprise software company and the #1 CRM provider globally. Salesforce Ventures—the company’s corporate investment group—invests in the next generation of enterprise technology that extends the power of the Salesforce Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 275 enterprise cloud startups in 17 different countries since 2009. For more information, please visit www.salesforce.com/ventures.
About Global Founders Capital
Global Founders Capital is a globally oriented, stage agnostic venture capital firm that empowers gifted entrepreneurs worldwide. Over the past two decades, GFC has backed over five hundred entrepreneurs from series seed to IPO on all continents.