AIOps stands for Artificial Intelligence in Operations and is the process of using AI to automate IT tasks. As AI becomes more commercialized, more organizations are adopting it, but adoption remains slow. A recent IDC survey found that nearly half of enterprises say they are just beginning their AIOps journey, and one-third say they have an AIOps roadmap but “there is still a lot of work to do.” did.
Longtime Juniper Networks executives Kannan Kothandaraman and Nitin Kumar thought they might know how to spread AIOps broadly. In 2019, they founded Selector, which attempts to use data and AI to identify IT problems and how to solve them.
“We first came up with the idea for Selector after working with leading hyperscalers and understanding how they use data to better optimize their network operations,” said Kothandaraman. told TechCrunch. “They were able to use data to improve efficiency and put machine learning and AI to work across the network.”
So Kothandaraman and Kumar started chatting with similar companies in the space. Many wanted help achieving what hyperscalers have done: embedding AI into their operations. After forming a team, Kothandaraman and Kumar launched Selector. The company's platform monitors corporate infrastructure and prescribes actions after an IT incident.
Users can ask questions about their issues through an AI-powered chat interface. For example, “Where did this failure occur?” — and the selector responds in natural language.
Image credit: Selector
“The main thing we're doing is simplification,” Kosandaraman said. “Enterprises are experiencing an explosion of complexity and data, and teams are struggling to process it. We're providing these teams with the insights they need to do their jobs.”
Now Selector has competition, and quite a lot of it. Keep and Sensor are designed to help operations teams reduce alert fatigue. BigPanda is one of the leading AIOps players that has raised hundreds of millions of dollars in venture capital. Additionally, established companies such as New Relic and ServiceNow offer their own AIOps solutions.
Fortunately for Selector, the AIOps market is growing rapidly. According to one estimate, the sector will generate $213.66 billion by 2033, up from $25.24 billion in 2023.
Selecta, which has about 40 customers including AT&T, Bell Canada and SingTel, closed a $33 million Series B round led by Ansa earlier this month. Kothandaraman did not share the selector's valuation, but said it has quadrupled since October 2021.
“Over the past two years, we have been deployed by some of the world's largest telecommunications and enterprise companies,” he said. “Currently, demand from other companies is increasing. It's time to invest in expanding our reach and visibility.”
Selecta's total funding will be $66 million, and the Series B proceeds will be used to expand the company's footprint with new offices and staff across the U.S., Canada, Europe, Singapore, India and Japan, Kosandaraman said. he said. Selecta plans to increase its workforce from 115 to 150 employees next year.
Two Bear Capital, Atlantic Bridge, Sinewave Ventures, and aforementioned clients AT&T, Bell Canada, and Singtell also participated in Selector's Series B.