"Ex-Splunk Execs Launch Resolve AI to $1 Billion Valuation"

Resolve AI, a Startup Co-Founded by Ex-Splunk Execs, Hits $1 Billion Valuation with Series A Funding Resolve AI, a startup developing an autonomous site reliability engineer (SRE) tool, has achieved a $1 billion valuation in its Series A funding round led by Lightspeed Venture Partners. The company's innovative technology automates software system maintenance, identifying and resolving production issues without human intervention. According to three people familiar with the deal, the headline valuation for the fresh round is $1 billion, although the actual blended valuation was lower due to a multi-tranched structure. The multi-tranched structure, a novel investment approach popular among AI startups, allowed investors to purchase some equity at the $1 billion valuation but acquired the remainder at a lower price. This strategy has become increasingly popular among investors seeking to capitalize on the growing demand for AI-driven solutions. Resolve AI's annual recurring revenue (ARR) is approximately $4 million, according to two people familiar with the deal. Resolve AI was co-founded by former Splunk executives Spiros Xanthos and Mayank Agarwal. The company's SRE tool is designed to maintain software systems, reducing the need for human intervention and minimizing downtime. With its cutting-edge technology and significant funding, Resolve AI is poised to make a significant impact in the AI-driven software maintenance landscape. The Series A funding round, led by Lightspeed Venture Partners, is a major milestone for Resolve AI. According to a statement from Lightspeed Venture Partners, "Resolve AI's innovative technology has the potential to revolutionize the way software systems are maintained." The funding will be used to further develop the company's SRE tool and expand its reach into new markets. Resolve AI's achievement is a testament to the growing demand for AI-driven solutions in the software maintenance industry. As the use of artificial intelligence continues to increase, companies like Resolve AI are well-positioned to capitalize on this trend. With its $1 billion valuation and significant funding, Resolve AI is set to become a major player in the AI-driven software maintenance landscape. In an interview, Spiros Xanthos, co-founder of Resolve AI, stated, "We are excited to have the support of Lightspeed Venture Partners and other investors. This funding will enable us to further develop our SRE tool and bring it to a wider audience." Mayank Agarwal, co-founder of Resolve AI, added, "Our goal is to make software maintenance more efficient and cost-effective, and we believe that our SRE tool is a key step towards achieving that goal." Resolve AI's current status and next steps are unclear, but the company's significant funding and innovative technology make it a company to watch in the AI-driven software maintenance landscape. As the demand for AI-driven solutions continues to grow, companies like Resolve AI are well-positioned to capitalize on this trend and make a significant impact in the industry.