With participation from Dallas Venture Capital and TVS Capital Funds, VuNet Systems, a supplier of AI-based Business Journey Observability, secures $5 million in Series A funding, which is led by Mela Ventures and Athera Venture Partners (previously Inventus India).
With an opportunity size of $55 billion the financing will be utilised to hasten the investigation and creation of fresh AI/ML-driven product offerings as well as the growth of international operations in the US, Asia, and India, as per reported by Business World.
Ashwin Ramachandran, Co-founder and CEO of VuNet Systems, said, “VuNet is excited to count some of the most well-known names in the financial institutions among our customers. We will continue to focus on expanding our customer growth and our product base to create more intelligent, actionable insights for operations, business and CXOs to accelerate their digital transformation”.
Ashwin Ramachandran, Bharat Joshi, and Jithesh Kaveetil co-founded VuNet Systems, which has an award-winning AI-driven business observability platform called vuSmartMaps™. vuSmartMaps™, a first of its type, assists businesses in making the switch from conventional IT monitoring to business outcome-based IT operations.
Krishnakumar Natarajan, the Managing Partner at Mela Ventures, said, “Real-time and in-depth visibility into the customer and business journey is fast becoming a key differentiating factor between realizing or missing the digital dreams. VuNet’s AI-based observability platform provides that missing intelligence for businesses. The fact that leading financial institutions trust VuNet is proof of its growing importance and potential. We are excited to partner with VuNet. The leadership team has great vision and goals to be the category leader.”
“In today’s hyper-inter-connected world, real-time observability is key to ensuring smooth transactions. VuNet has the unique ability to stitch together siloed views and present business journeys in a unified view for end-user context. The technology solidity of VuNet’s team, their strong domain expertise, and marquee customers is what excited us about the value creation opportunity here”, said Samir Kumar, GP at Athera Venture Partners (formerly Inventus India).
“We are excited by the opportunity to bring DVC Advantage to play a transformative role in VuNet’s growth strategy, which is centered around revenue acceleration from expansion in Asian and the US markets,” said Gokul Dixit, Venture Partner at DVC.
VuNet monitors over 3 billion+ transactions monthly and customers have realized 10X operational efficiencies, superior end-user digital experience, through complete visibility across business transactions, proactive monitoring, improved application service levels, 90% faster incident response, all with reduced operational cost.