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Willkie and Ropes Steer $190 Million Funding Round for BigPanda

Jan. 14, 2022, 11:55 AM

Willkie Farr & Gallagher represented Insight Partners as the New York-based private equity firm co-led a $190 million funding round for BigPanda Inc.

Mountain View, Calif.-based BigPanda provides an artificial intelligence platform for information technology operations.

Ropes & Gray advised Advent International, which also co-led the funding round, a spokesperson for the Boston-based private equity firm said in an email.

The round brought BigPanda’s total valuation to around $1.2 billion, according to a statement.

BigPanda says its AIOps platform helps IT operations teams deal with huge volumes of complex data from their hybrid cloud infrastructures by automating incident management, helping prevent outages and increasing speed of digital businesses.

Eric Noeth, partner at Advent International, said the Covid-19 pandemic has forced companies to have a strong digital presence, fueling demand for solutions to manage complex digital environments.

“Not only is BigPanda the most powerful solution in the market, but they have generated tremendous value for some of the most storied brands across sectors,” Noeth said. “We are thrilled to be working with the company as it continues innovating in the category.”

To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
To contact the editor on this story: Chris Opfer in New York at copfer@bloomberglaw.com; John Hughes in Washington at jhughes@bloombergindustry.com