Whether it’s website outages, data breaches, or overwhelmed support teams, mishaps are almost inevitable in companies in a world increasingly run by technology. In the past, organisations put huge amounts of effort into trying to prevent things going wrong, relying on a zero-incident strategy. But in a world of increasingly complex digital ecosystems and APIs, this is bound to fail.
London-based incident management platform for high-growth technology companies incident.io has raised $34.2 million in funding, including $28.7 million in Series A led by Index Ventures, and a previously unannounced $5.5 million round closed earlier in the year.
This brings the total amount raised to $39 million. Existing investor Point Nine participated in the Series A round alongside new investors, including Instagram co-founder Mike Krieger, Lachy Groom and the Chainsmoker’s Mantis VC.
The extra cash will be utilised to enter the U.S. market and grow its existing London presence. The company’s New York office is set to open in July.
The new funding follows a substantial period of growth for incident.io. In the year since the company launched, it has partnered with over 150 paying customers across the world – from fastest-growing tech companies to large public enterprises including Loom, Vanta, trainline and dbt Labs.
The platform offers ‘default’ solutions to incidents – such as creating communication channels for team discussion, sending an update to customers, or assigning users to play specific roles. It draws on a ‘virtual war room’ for running an incident directly within Slack, where most confusion and chaos are typically found. It can also encode and automate key workflows.
Stephen Whitworth, CEO and co-founder said: “We’re seeing a mind shift at companies around the world, moving away from aiming to stop every incident from happening to focusing on being resilient when it does. Things will go wrong, the question is, will you be in control or on the back foot?”
Mike Volpi, partner at Index Ventures, added: “Companies have been reorganising and retooling themselves as their reliance on technology has increased and their zero-incident strategy has become unviable. incident.io has been the solution in this transformation, resulting in impressive growth for the company, and the broadening of its client base beyond the traditional high growth segment.”