Ex Splunk execs startup Resolve AI hits 1 billion valuation with Series A
Resolve AI is a startup that builds an autonomous site reliability engineer. This tool helps keep software systems working on their own. The company has raised a Series A funding round led by Lightspeed Venture Partners. Three people familiar with the deal shared this information.
Sources said the headline value of the new round is one billion dollars. The real value was lower because the deal was split into parts. In this setup, investors bought some shares at the one billion value. They bought more shares at a lower value. Investors say this kind of deal is now common for top artificial intelligence startups.
Two sources said the company earns about four million dollars in yearly recurring revenue. The total amount of money raised in the round was not shared.
Resolve AI and Lightspeed did not respond to requests for comment.
The startup was founded less than two years ago. It is led by Spiros Xanthos, a former Splunk executive, and Mayank Agarwal. Agarwal was Splunk’s former chief architect for observability. The two have worked together for about twenty years. They met during graduate school at the University of Illinois Urbana Champaign. They also co founded Omnition, a startup that Splunk bought in twenty nineteen.
Human site reliability engineers usually fix system problems by hand. Resolve AI automates this work. Its system finds, checks, and fixes software problems in real time.
This automation helps with a growing issue. Software systems are becoming more complex and spread across cloud services. Many companies struggle to hire enough skilled engineers. Automation can reduce downtime, lower costs, and help teams focus on building new features.
Last October, Resolve AI raised thirty five million dollars in a seed round. Greylock led the round. Other investors included Fei Fei Li from World Labs and Jeff Dean from Google DeepMind.
Resolve AI competes with Traversal. Traversal is another artificial intelligence startup in this space. It raised forty eight million dollars in a Series A round led by Kleiner Perkins. Sequoia also joined the round.
