SAN FRANCISCO, April 03, 2024 (GLOBE NEWSWIRE) -- Flip AI today announced that it has been named to the CB Insights AI 100 that showcases the 100 most promising private AI companies of 2024. The winners were chosen based on several factors, including CB Insights’ data on interviews with software buyers, deal activity and team strength: https://www.cbinsights.com/learn/ai-100-2024.
Flip AI emerged from stealth in November last year with its groundbreaking observability intelligence platform, Flip, powered by a LLM that predicts incidents and generates root cause analyses in seconds. Flip is trusted by well-known global enterprises, including a top media and entertainment company and some of the largest financial institutions in the world.
“We’re honored to be named to the CB Insights AI 100 list,” said Corey Harrison, co-founder and CEO of Flip AI. “When we set out to build Flip AI, we knew we were taking on a critical challenge within the industry. Enterprises have long searched for the ‘holy grail’ of observability, a tool capable of making sense of the explosion of telemetry data amid rising costs of downtime and infrastructure spend. By combining the power of Generative AI with our team’s expertise in managing large scale enterprise systems, we’ve built an observability intelligence platform that generates root cause analyses in seconds, an industry first. We’re solving real problems, helping enterprises deliver best-in-class customer experiences and optimize performance.”
Most enterprises use multiple observability systems and spend millions on every year but incident volume continues to increase and the cost of downtime has grown to more than $9,000/minute. Today when an incident occurs, developers access many different systems to attempt to sort, analyze, correlate and identify a root cause. This can take hours, days, weeks or can even go undetected, impacting enterprises negatively in many ways: losing revenue, harming brand reputation and pulling developers away from innovating.
Flip automates incident resolution processes, reducing the effort to minutes for enterprise development teams. Flip’s core tenet is the notion of serving as an intelligence layer across all observability and infrastructure data sources and rationalizing through any modality of data, no matter where and how it is stored. Flip sits on top of traditional observability solutions like Datadog, Splunk and New Relic; open source solutions like Prometheus, OpenSearch and Elastic; and object stores like Amazon S3, Azure Blob Storage and GCP Cloud Storage. Flip’s LLM can work on structured and unstructured data; operates on-premises, multi-cloud and hybrid; requires little to no training; ensures that an enterprise’s data stays private; and has a minimal compute footprint.
“AI is taking off at lightning speed, and it’s not just big tech companies at the forefront of it,” said Deepashri Varadharajan, director of AI research at CB Insights. “Our AI 100 winners – many of them early stage startups, some with very small teams – are pushing the boundaries of AI in everything from game development and battery design to agentic AI systems.”
About Flip AI
Flip AI is helping enterprises unlock the full potential of their observability data. Flip AI’s observability intelligence platform is powered by a LLM that predicts incidents and generates root cause analyses in seconds. The company is backed by Factory, Morgan Stanley Next Level Fund and GTM Capital and based in San Francisco. For more information, go to https://www.flip.ai/.
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