NetOp.Cloud, the cloud-based network operation management solution, today announced the company’s public launch, following a successful $4.5 million seed round. Investment was led by Springtide Ventures, together with OurCrowd, VentureIsrael, and Labs/02.
NetOp.Cloud addresses a key challenge for MSPs and enterprise IT teams: how to ensure that business internet connections and applications are reliable, secure, and fast, even as they grow increasingly hybrid, complex, and opaque. Reliable high performance internet connectivity has become a basic business requirement, making service degradation or downtime very costly. Thus the demands on network managers and MSPs keep growing, yet appropriate tools and skilled personnel are in short supply. In addition, current network management is tedious, time-consuming, and error-prone, with workflows and updates still handled manually.
Recent headline-grabbing incidents of server failure help highlight the need for a solution like NetOp.Cloud. Late last year, a configuration error meant that more than 3.5 billion users were locked out of their Facebook, WhatsApp, and Instagram accounts for hours, causing Meta Group’s stock to lose $50 billion in value. A series of similar outages hit cloud infrastructure provider AWS taking down many business and entertainment apps that were hosted on the provider.
NetOp.Cloud is the first company to deliver a cloud-native solution to the rising complexity of these business critical networks. NetOp.Cloud’s SaaS network operation platform uses artificial intelligence (AI) to constantly monitor network health, simplify IT and network operations, and automate workflows so that networks can self-heal. NetOp.Cloud automatically locates the cause of slow or interrupted internet service, and suggests actions or automatically reconfigures systems to resolve the problem.
NetOp’s automated network monitoring and remediation solution has already been installed at leading companies worldwide, including global financial institutions, manufacturers and service providers. The solution is vendor agnostic and easy to use without a high level of technical expertise.
Born in the cloud, NetOp.Cloud applies AI to automate tedious configuration workflows, monitor network health and usage, and proactively spot nascent issues before they snowball to the extent of affecting user experience. MSPs and enterprise IT teams can save time and money on detailed, time-consuming tasks, freeing them for other activities and cutting downtime for them and their users.
NetOp.Cloud was founded by industry veterans with a background in cloud, SaaS, AI, networking and automation, all of whom realized the need for a better solution to managing complicated networks. The managed network service market is estimated to grow at a CAGR of 6.3%, from $52.7 billion in 2020 to $71.6 billion in 2025, and the NaaS market within that is predicted to grow from $10.4 billion in 2021 to $37.5 billion by 2026, at a CAGR of 29.4%.