ServiceNow acquires AI for IT startup Loom Systems

ServiceNow today announced that it has acquired Loom Systems to strengthen automated insights for customers using the Now platform in order to help them quickly fix IT issues. Loom Systems CEO Gabby Menachem and some members of the Loom Systems team will join ServiceNow as part of the deal. The financial terms of the sale were not disclosed.

Loom Systems tech will be integrated with ServiceNow’s IT Service Management (ITSM) and IT Operations Management (ITOM) solutions.

Based in Israel, Loom Systems can analyze software log data across applications in the cloud or on premises to help organizations manage operations. The resulting data can be used for anomaly detection, recommend task remediation in plain language, automate the creation of incident reports, or automate tasks with ServiceNow workflows.

The acquisition follows ServiceNow’s 2018 acquisition of NLP startup Parlo to improve the Now platform.

Loom Systems and others, like Coralogix, are using machine learning to detect anomalous behavior or patterns in software logs. Like DevOps companies, AI for IT management (AIOps) is a growing area of focus for AI startups.

Loom Systems was founded in 2015 by Menachem, CTO Ronny Lehmann, and VP Dror Mann. ServiceNow expects the deal to close by the end of Q1 2020.

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