Monq AIOps Startup Raises $1.5M Investment from Co-Founder of Veeam

RIGA, Latvia – January 19, 2022 – Monq Lab SIA, which develops a self-hosted topology-based AIOps incident control and automation platform for enterprise, announces a $1.5M seed round led by Ratmir Timashev, the co-founder of Veeam - the global leader in data protection and management. The investment will be used for the expansion of marketing and sales operations in North America and EMEA. 

According to an Allied Market Research report, the AIOps market is projected to be worth $644 billion by 2030, with a growth rate of 20-30% per year.

Monq addresses the needs of enterprises for proactive IT systems observability by offering a simple and powerful root-cause analysis and incident management platform. Monq provides the industry’s first AIOps topology-based automation platform that analyzes data from different monitoring systems, automatically discovers topology, controls application and infrastructure health, provides rapid root cause analysis and starts incident remediation processes built on a low-code engine - while doing - all this with security at the forefront. 
The product has a flexible, open and extensible architecture. All connectors and plugins can be easily customized. Customers can quickly build their own integration or use an existing one. Take business processes and services health data from Dynatrace, Instana, AppDynamics or use synthetic tests. Users can discover the topology in less than three (3) minutes from VMware vCenter or Kubernetes, and instantly link it to a modern infrastructure monitoring tool such as Zabbix, Prometheus, DataDog, or other. This gives IT Pros a complete health map of all IT layers and quick root cause analysis for incidents.
With 50% lower downtime and 84% fewer user complaints, Monq’s AIOps automation platform increases the efficiency of root-cause analysis and the speed of investigation of IT-incidents by 70-95%, delivering tangible benefits to IT organisations. Specifically designed and built for Site Reliability Engineers (SRE), DevOps and IT operations teams, Monq’s technology helps to visualize the digital health of a business, enabling the fast and efficient monitoring and resolution of IT issues.

Monq Free Community Edition is a free version of its flagship product, and is quickly becoming one of the most popular tools among SRE, DevOps and IT Ops professionals for quick and simple root-cause analysis and troubleshooting. 

Ratmir Timashev, the lead investor commented, "I am very excited to work with Nikolay and his talented team, who have created a huge opportunity to become the #1 AIOps provider, with a simple, yet powerful platform. AIOps has become a very large and fast-growing market, disrupting traditional IT Ops by removing the silos between many legacy and modern tools. Now companies of any size can deploy AIOps and reap the benefits with Monq free Community Edition."

Nikolay Ganyushkin, CEO and founder of Monq, commented, “We have already developed an amazing product that we have made completely free for IT Pros. Businesses can dramatically reduce incident management and NOC costs, freeing money and resources for other strategic digital initiatives. Dispatching, like detection, classification, localization, prioritization, routing and elimination control will be handled by AIOps systems rather than dozens of engineers in front of hundreds of monitor screens. This change in the industry can be compared to the transition from the manual labor of telephonists in the early 20th century to a PBX with automatic dialing. AIOps is disrupting the IT industry, and we want to be at the forefront of this disruption, to become the #1 AIOps solution worldwide.”