RALEIGH – InsightFinder has raised an additional $2,010,000 from 10 investors, including IDEA FUND Partners.
In an SEC Filing, the company noted the round involved an option, warrant, or other right to acquire another security, as well as security to be acquired upon the exercise of option, warrant, or other right to acquire security.
The company was founded by Dr. Helen Gu, a professor at N.C. State, and provides software to clients like Dell, Credit Suisse, and China Mobile that detect system anomalies without thresholds. The firm says that this results in predicting severe incidents hours before they happen, and that the technology can automatically pinpoint root causes.
“The company is definitely hiring in the Triangle,” said Gu. “InsightFinder is under rapid growth and we see increasing demand from customers because almost every business relies on a reliable IT system to function and InsightFinder provides the right product for this pressing market demand.”
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According to a statement from the company, the funding comes from Fellows.Fund, Silicon Valley Future Capital, Eastlink Capital, and Brightway Future Capital. IDEA Fund Partners also participated in the round, said Lister Delgado, managing partner.
“We funded the company not too long ago,” said Delgado. That prior funding came in January 2021 and was $725,000 from seven investors, according to an SEC filing.
“This is an expansion of that funding and was a bit opportunistic,” said Delgado about the most recent raise. “It is a highly reputable group of investors that we wanted to add to the cap table. We were not really pursuing the money.”
Delgado is a member of the company’s board of directors.
