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Home / SmartTech / ServiceNow acquires Loom Systems to expand AIOps coverage – TechCrunch

ServiceNow acquires Loom Systems to expand AIOps coverage – TechCrunch



ServiceNow announced today that it has acquired Loom Systems, an Israeli startup specializing in AIOps. The companies did not announce the purchase price.

IT operations collect tons of data through a range of monitoring and logging tools, far too much for a team of people to keep up. For this reason, there are startups like Loom that turn to AI to solve the problem. It can find problems and patterns in the data that would be difficult or impossible for humans to find. The use of AI on operational data in this way has become known as AIOps.

ServiceNow is primarily a company that tries to digitize the service process, but this manifests itself. IT service operations play a major role in this. Organizations can monitor their systems, wait for a problem to occur, and then try to track down and fix the cause. But you can also use the power of artificial intelligence to identify and neutralize potential system health threats before they become serious problems. This can bring an AIOps product like Loom to the table.

Jeff Hausman, vice president and general manager for IT Operations Management at ServiceNow, sees Loom's strengths in merging with ServiceNow's existing tools to support the operation of IT systems. "We will use Loom Systems (1

9459009) log analysis capabilities to help customers analyze data, automate corrective actions, and reduce L1 incidents," he told TechCrunch. "By joining forces, we have a unique opportunity to bring our AI innovations and ServiceNow's AIOps capabilities together to help customers avoid and fix IT problems before they become problems," he said in a statement in 2015 based on PitchBook data. The last round for $ 10 million was in November 2019. Today's deal is expected to close at the end of this quarter.


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