"The headline valuation for the fresh round is $1 billion, sources said. However, the company's actual blended valuation was lower because of a multi-tranched structure. In this setup, investors purchased some equity at a $1 billion valuation but acquired the remainder - likely a larger percentage of the round - at a lower price. This novel investment approach has recently become popular for the most sought-after AI startups, investors say."
"Founded less than two years ago, the startup is led by former Splunk executive Spiros Xanthos and Mayank Agarwal, Splunk's former chief architect for observability. The duo's partnership dates back 20 years to their graduate studies at the University of Illinois Urbana-Champaign. This isn't their first collaboration; they previously co-founded Omnition, a startup that was acquired by Splunk in 2019."
"The automation addresses a growing challenge for companies. As software systems become more complex and distributed across cloud infrastructure, outfits often struggle to find and retain enough skilled SREs to keep systems running smoothly. Automating these tasks can reduce downtime, lower operational costs, and free up engineering teams to focus on building new features rather than trying to constantly stomp out production issues."
Resolve AI raised a Series A led by Lightspeed Venture Partners with a headline valuation of $1 billion, though a multi-tranched structure produced a lower blended valuation. Investors purchased some equity at $1 billion and acquired the remainder at a lower price. Annual recurring revenue is approximately $4 million. Resolve AI automates site reliability engineering by autonomously identifying, diagnosing, and resolving production issues in real time, reducing downtime and lowering operational costs. The startup was founded less than two years ago by Spiros Xanthos and Mayank Agarwal, who previously co-founded Omnition, acquired by Splunk in 2019.
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