Fresh hiring round, growing leadership team to accelerate momentum of 2021 performance as burgeoning AIOps market fuels growth
ScienceLogic, a leading provider of AI/ML-driven IT monitoring solutions, is moving forward with pivotal efforts to build on an exceptional year, jumpstarting 2022 with key hires and an ambitious growth trajectory.
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“Despite a second year of unprecedented volatility due to the pandemic, we achieved our fastest annual recurring revenue growth rate in more than four years. Our success is no accident, and it’s just the beginning of what’s to come”
The moves signal ScienceLogic’s continued prominence among technology providers, as recognized by the Forrester Wave and the multi-billion dollar ITOM market AIOps is transforming. The pandemic is fast-tracking enterprise-level prioritization of hybrid cloud deployments—but these operating models require new tools providing deeper visibility into the health, availability, and risk of mission-critical digital services. ScienceLogic leads the pack of go-to AIOps providers, integrating automated resolutions and workflow management in the end-to-end digital experience. The company’s remarkable performance in 2021 further solidifies ScienceLogic’s leadership and its future.
In January, the company named IT industry veteran Todd Harris as general counsel and chief legal officer. Harris strengthens the leadership team with critical expertise and essential guidance for growth. Additionally, ScienceLogic aims to hire nearly 200 people in the coming months—boosting ranks again after a 30% headcount increase last year—to support investments in revenue teams, customer success, global expansion and product development.
“The company is at an inflection point. Every company with any kind of sophistication needs ScienceLogic’s functionality,” Harris said. “That need becomes more acute now that IT’s become incredibly complex, digital transformation is a CEO priority for business innovation and companies face extraordinary global competition. ScienceLogic objectively has a suite of better, more comprehensive AIOps functionality than anything else in the market.”
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ScienceLogic’s customer satisfaction swelled by nearly 40% since last year and net dollar retention (NDR) rates exceeding 167% in some sectors. Overall, NDR increased to over 110%.
The company’s public sector revenues increased by more than 71% from 2021, while revenues in the EMEA market jumped by more than a quarter on the year. Coupled with remarkable growth in several other key metrics, ScienceLogic’s momentum underscores the breakneck pace of AIOps adoption—according to Gartner, almost 60% of companies are exploring AIOps and 40% of product and platform teams will be using AIOps by next year.
“Despite a second year of unprecedented volatility due to the pandemic, we achieved our fastest annual recurring revenue growth rate in more than four years. Our success is no accident, and it’s just the beginning of what’s to come,” said Dave Link, ScienceLogic CEO and founder. “We’ve seen the tremendous growth, demand and market opportunities for advanced IT capabilities, and we’re executing ScienceLogic’s trajectory to rapidly deliver on the increase in Total Addressable Market Opportunity with our customers and AIOps marketplace.”