Incident.io Raises $62 Million to Expand AI-based Incident Management Platform

London-based startup Incident.io, which has developed an AI-based platform to expedite incident management and response in the diverse world of IT, has secured $62 million in financing. The startup, with operations in San Francisco, plans to utilize the funds for hiring, sales, and marketing in both regions. Insight Partners led the Series B round, with Index and Point Nine also participating. The latest funding brings Incident.io's total raised to over $96 million. The company's valuation is estimated to be around $400 million.

Founded by Stephen Whitworth, Pete, and Chris Evans, who previously worked together at fintech Monzo, Incident.io aims to address the pain points faced by digital organizations in identifying and tracking incidents. The platform caters to organizations with more than 200 users, including Netflix, Linear, Ramp, and Etsy. Incident.io's customer base has tripled in the last 12 months, with about 75% of new customers based in the U.S. The company has facilitated responses and alerts for approximately 250,000 incidents since its inception in 2021.

In addition to expanding its customer base, Incident.io has also broadened its product features by adding support for Microsoft's Teams and a customized dashboard. The startup has also introduced more AI capabilities, including an AI copilot for incident management and collaboration with services like Datadog. The recent funding reflects the company's commitment to building a platform that engineers rely on to minimize downtime and maximize productivity.