ServiceNow acquires Israeli AIOps start-up Loom Systems

The company has raised $16 million in funding to date, led by Jerusalem Venture Partners (JVP), along with investments from Meron Capital, Global Brain and Flint Capital.

JANUARY 22, 2020 18:50

Loom co-founders Ronny Lehmann (L), Gabby Menachem and Dror Mann. (photo credit: LOOM SYSTEMS) — Loom co-founders Ronny Lehmann (L), Gabby Menachem and Dror Mann.

(photo credit: LOOM SYSTEMS)

American cloud computing company ServiceNow has signed an agreement to acquire Israeli AIOps start-up Loom Systems, the companies announced on Wednesday.

ServiceNow says the transaction will extend its AIOps – artificial intelligence for IT operations – capabilities, "giving customers deeper insights into their digital operations" to prevent and fix IT issues before becoming major problems. The financial details of the acquisition were not disclosed.

"As a strategic partner to the world’s largest enterprises, ServiceNow is enabling digital transformation and driving customer success," said Loom Systems CEO Gabby Menachem. "We are excited to join the ServiceNow team to help IT organizations respond at the speed of today’s digital business."

Tel Aviv-based Loom Systems was founded in 2015 by Menachem, CTO Ronny Lehmann and vice president of product Dror Mann. The company has raised $16 million in funding to date, led by Jerusalem Venture Partners (JVP), along with investments from Meron Capital, Global Brain and Flint Capital.

"Today, IT departments struggle to meet performance expectations and keep pace with the growth in demand for new, great digital services," said Jeff Hausman, vice president and general manager of IT Operations Management at ServiceNow. "By bringing together Loom Systems’ ability to analyze log and metrics data with ServiceNow’s AIOps and workflow automation capabilities, IT departments will be able to proactively pin‑point and resolve operational issues, enabling seamless experiences for their customers and employees."

Also on Wednesday, Israeli predictive cyberthreat provider Vicarius announced that it had secured a seed funding round of $5m. The investment was led by JVP, together with innogy Innovation Hub and Goldbell.

Based in Tel Aviv, Vicarius said the funding will accelerate its international growth and operating scale, and expand its product offering to more clients across multiple industries.

Founded in 2016 by cyber experts Michael Assraf, Roi Cohen and Yossi Ze'evi, Vicarius uses machine learning and proprietary Vulnerability Assessment technology to "empower companies with proactive attack mitigation strategies for software vulnerabilities in real-time." The company's technology patches vulnerabilities and offers interim threat protection for target areas that have not been directly addressed."

Gadi Porat, partner at JVP and the head of JVP Cyber Labs, will join Vicarius' board of directors following the investment.

"Vicarius’ platform, based on Machine Learning and Dynamic Binary Instrumentation, provides a defense from yet-to-be-discovered software vulnerabilities through a multi-step solution: discovering security loopholes, prioritizing threats and protecting systems," said Porat.

"This new approach safeguards any software without involving the vendor or IT teams. After a decade of limited technological breakthrough in this field, Vicarius offers a pioneering solution to identify, manage and predict software vulnerabilities in a fast, efficient and cost-effective way, and we’re delighted to be investing.”