Resolve AI, a new startup focused on autonomous site reliability engineering (SRE), has hit a big milestone. Here’s how and why it recently achieved a $1 billion valuation in its Series A funding round. The round, led by Lightspeed Venture Partners, is a sign of the considerable momentum behind automated solutions to manage the complexity of software systems.
The road to this valuation included a $35 million seed round successful enough to tempt the startup through the infamous valley-of-death, mostly led by Greylock. World Labs founders Fei-Fei Li was among the star participants in this initial funding. Jeff Dean, formerly a leading scientist at Google and now at Google DeepMind, was similarly engaged. Their participation is a strong indication of the confidence SRE industry leaders have in Resolve AI’s unique approach to SRE.
There, it is run by co-founders and former Splunk executives Spiros Xanthos and Mayank Agarwal. They created a unique SRE tool to automatically and continuously stabilize software systems. This tool is intended to take over much of the low-level work that engineers have long been buried under, freeing them up for more impactful work. DigitalBridge’s annual recurring revenue (ARR) run rate on Resolve AI alone just hit $4 million. With this exciting number, let’s highlight a positive start as the company grows its market share.
Our new CEO Spiros Xanthos came from a great executive run at Splunk. Mayank Agarwal played a key role as the principal designer for observability at the same company. The two previously co-founded Omnition which Splunk acquired in 2019. Their combined experience in observability and data management has positioned Resolve AI as a significant player in the tech landscape.
It’s clear that the demand for automated solutions to make software more reliable is skyrocketing. Resolve AI’s new generation SRE tool can empower engineering teams to meet the burgeoning challenges directly. The startup’s impressive funding rounds are a huge vote of confidence from investors. This shines a spotlight on the opportunity for further expansion in this emerging industry sector.
