Loom has raised $16 million to date led by JVP, along with investments from Meron Capital, Global Brain, and Flint Capital.
ServiceNow, the American Cloud Computing Company has acquired Loom Systems, an Israel-based AIOps company, a part of JVP’s Portfolio. The transaction will extend ServiceNow’s AIOps capabilities, giving customers deeper insights into their digital operations so they can prevent and fix IT issues at scale before they become problems.
Loom Systems was founded in 2015, by CEO Gabby Menachem, CTO Ronny Lehmann and Vice President of Product Dror Mann. The company has raised $16 million to date led by JVP, along with investments from Meron Capital, Global Brain, and Flint Capital. The company today is made up of 30 employees based out of Tel Aviv, San Francisco and JVP’s International Cyber Center in New York City.
ServiceNow, a publicly traded company valued at $60 billion, is a leading digital workflow company that is making the world of work, work better for people. Their cloud‑based platform and solutions deliver digital workflows that create great experiences and unlock productivity for employees and the enterprise.
JVP Founder and Chairman Erel Margalit: “We congratulate Loom Systems Founders and the Team for this great success. The acquisition of Loom Systems by ServiceNow, a leading digital workflow company, reinforces the quality of the technology that Loom Systems has created in such a short time. Israeli technology is the frontrunner of world in AI technology, and by supporting these companies, more and more Israeli start-ups can continue scaling and integrating into global markets.”
JVP General Partner, Yoav Tzruya, Loom Systems Board Member: “We partnered with Gabby, Dror and Ronny early on, having identified the team’s excellence and the unique technology they were developing. We quickly focused on the IT AIOps category, proving the value in automating IT resiliency and response. We are sure ServiceNow is going to be able to realize our joint vision on a global scale, and we look forward to continue our partnership with them and the founders.”
About Loom Systems
Loom Systems’ AIOps solution predicts and solves IT incidents in enterprises undergoing digital transformation or cloud migration. Sophie, the technology behind Loom’s AIOps platform, proactively detects IT incidents, alerts IT teams before issues impact customers, and enriches alerts with insights and resolutions in plain English. Learn more by visiting www.loomsystems.com and following @Loom_Systems on Twitter.
About Jerusalem Venture Partners (JVP):
Jerusalem Venture Partners (JVP), was founded and led by Dr. Erel Margalit, is an internationally renowned venture capital fund and one of the leading cyber security investors out of Israel.
JVP has to date raised $1.4 billion across 9 funds, and has been listed numerous times by Preqin, and other rankings, as one of the top-ten consistently performing VC firms worldwide. JVP has built over 140 companies, leveraging a broad network of partners and market expertise to help companies become global market leaders. JVP has been chosen by Ney York City and EDC to lead the cyber security cyber huh in NYC and leads the cyber national center in Beer Sheva.
Among the pioneering firms of the Israeli venture capital industry, JVP has been instrumental in building some of the largest companies out of Israel, facilitating 12 Initial Public Offerings on NASDAQ including CyberArk Software (NASDAQ: CYBR, $4.7 billion mkt. cap.), QLIK Technologies (NASDAQ: QLIK, then $4 billion mkt. cap.) and Cogent Communications (NASDAQ: CCOI, $3 billion mkt. cap.) and more https://www.jvpvc.com/
About ServiceNow:
ServiceNow (NYSE: NOW) is making the world of work, work better for people. Our cloud‑based platform and solutions deliver digital workflows that create great experiences and unlock productivity for employees and the enterprise. For more information, visit: www.servicenow.com.
© 2019 ServiceNow, Inc. All rights reserved. ServiceNow, the ServiceNow logo, NOW, NOW Platform, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries. Other company names, product names, and logos may be trademarks of the respective companies with which they are associated.