Resolve AI, a startup automating the work of systems reliability engineering (SRE), or solving system failure problems, announced a $125 million Series A at a $1 billion valuation.
The round was led by Lightspeed Venture Partners with participation from existing investors including Greylock Partners, Unusual Ventures, Artisanal Ventures and A*.
The announcement confirms a TechCrunch report in December that the startup was growing to a billion-dollar valuation led by Lightspeed.
Sources told TechCrunch at the time that the round could have consisted of multiple tranches at different prices, which could have resulted in an actual mixed valuation of the company under $1 billion. A Resolve spokesperson denied there were multiple tranches in this round, saying 100% of the equity was purchased at $1 billion.
As we mentioned earlier, this kind of structure allows certain investors, often executives, to buy a significant portion of the equity at a lower price.
Resolve was co-founded in early 2024 by two former Splunk executives, Spiros Xanthos and Mayank Agarwal. Their previous startup, Omnition, was acquired by Splunk in 2019.
Another startup using AI to identify and resolve system outages is Sequoia-backed Traversal. The emerging category is known as AI SRE.
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