Transposit is reinventing engineering operations and has a new cash infusion to provide an alternative to outdated development operations processes and siloes of institutional knowledge.
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The San Francisco-based company secured $35 million in Series B funding to bring its total funding to $50.4 million, according to Crunchbase data. Altimeter Capital led the investment with participation from existing investors Sutter Hill Ventures, SignalFire and Unusual Ventures. Sutter Hill led Transposit’s $12.2 million Series A in 2019.
As enterprises move toward more digital processes, Transposit’s “command center” can be integrated with Slack or used via Transposit’s interface to provide engineering operations teams with an easier and usable system for recording workflows and incident reports. That means the information is available in real time, not lost somewhere between new and experienced employees when an incident occurs, Tina Huang, founder and CTO said in an interview.
In fact, a LogicMonitor study from 2019 reported that 96 percent of global IT decision-makers have experienced a costly outage in the past three years. Meanwhile, IDC reported that the average cost of an infrastructure failure is $100,000 per hour and the average annual cost of unplanned application downtime is at $1.25 billion to $2.5 billion.
“Engineering teams today have so many tools and manual processes to weave together,” Transposit CEO Divanny Lamas told Crunchbase News. “Incidents are expensive, and in these times, the digital experience matters.”
Huang founded the company in 2016, and Lamas joined it last year. The new funding will be used to expand Transposit’s sales and engineering teams and build out its go-to-market initiatives.
The company, which is pre-revenue, has 26 employees and is planning to add eight more over the next month or so, Lamas said.
“We are getting ready to broadly sell the product,” she added. “We started out with a broad range of accounts from startups to Fortune 100 customers, so an immediate milestone is increasing the number of companies. We also want to expand the features and capabilities of the product.”
Illustration: Li-Anne Dias