ScienceLogic Surpasses $100M Investment Profile with $25 Million Growth Financing from Square 1 Bank

ScienceLogic, a leader in context-infused Artificial Intelligence for IT Operations (AIOps), announced today that it has secured $25 million in growth financing from Square 1 Bank, a division of Pacific Western Bank. Proceeds from the credit facility, which are currently untapped, will be used to support ScienceLogic’s continued growth and global expansion.

Since the May 2018 launch of ScienceLogic’s SL1, an automation engine for AIOps, the organization has quickly asserted itself as the industry leader in the emerging AIOps market, part of an overall market nearing $20 billion today and projected to grow to $30 billion by 2024. With this recent financing, ScienceLogic has surpassed $100 million in total capital investment, a testament to its dynamic growth within the industry and affirmation to its commitment to deliver real-time, automated solutions to enterprises worldwide.

“This new flexible line of credit from Square 1 supports ScienceLogic’s current initiatives of global expansion, ongoing product development, and continued growth into new market segments,” said Patrick McCoy, Chief Financial Officer for ScienceLogic. “We’re coming off our most successful quarter in the history of our company, now cash flow positive and debt free. This increase in our credit line further ensures ScienceLogic will be more agile with future growth opportunities. Our relationship with Square 1is key in accelerating our success and provides the fiscal flexibility to more rapidly expand our business and service to our growing number of customers around the globe.”

“The growth and innovation that ScienceLogic’s IT operations technology has achieved in such a short time is truly impressive,” added Kevin Johnson, Managing Director of Square 1’s mid-Atlantic banking practice. “We are thrilled to work with the talented ScienceLogic team as they continue to build a successful company.”

ScienceLogic’s SL1 is the fastest-adopted global product in the company’s history and recently earned ScienceLogic the recognition as one of the Top AI/ML Vendors for IT Operations by analyst firm Enterprise Management Associates.