AppNeta Raises $16 Million Investment Driven by Triple Digit Growth and APM 3.0 Strategy
Cloud and Mobile Market Disruption Fuels Demand for Next-generation Application Performance Management Platform
BOSTON, March 18, 2013 /PRNewswire/ — AppNeta, the leading provider of cloud-delivered services for IT performance management, today announced that the company has raised $16 million in Series C funding led by Bain Capital Ventures, Egan-Managed Capital, JMI Equity and Business Development Bank of Canada. The new investment validates AppNeta’s rapid growth in the SaaS performance management market and bolsters the company’s vision to transform IT performance management by bringing end-user experience monitoring and network insight to traditional application performance management (APM).
“Exceptional application delivery and end-user experience depend on understanding the performance of both the network and the applications running on it,” said Ben Nye, managing director at Bain Capital Ventures. “AppNeta is leading the market in converging application and network performance management, offering detailed application level performance data together with deep network performance insight. AppNeta is bringing customers end-to-end performance visibility they simply have never had before.”
AppNeta is the first company to unify full-stack application insight, comprehensive end-user monitoring, and 360-degree network performance insight to assure exceptional end-user experience and the successful delivery of business-critical applications. Providing thousands of customers worldwide with easy-to-use, cost-effective performance management services, AppNeta solutions are bridging the divide between applications and networks, and the IT organizations managing them.
“We have seen remarkable growth across our business during the past two years demonstrating a growing demand for SaaS-delivered performance management solutions,” said Jim Melvin, CEO, AppNeta. “Our customers know they can’t tolerate poor performing applications. They need complete, end-to-end visibility to assure optimal performance and end-user experience of all applications across all locations.”
During the past year, the company has experienced significant recurring revenue growth of more than 150 percent. The AppNeta technology and SaaS product portfolio has also expanded rapidly to include:
- Full-stack application and comprehensive end-user experience monitoring
- Active application path performance monitoring
- Application aware user traffic analysis
- Automated packet capture and analysis for troubleshooting
- Device-level operational metrics for infrastructure health and management
In June 2012, AppNeta acquired Tracelytics, adding full-stack, SaaS-delivered APM technology to the performance management portfolio. Tracelytics was founded in 2010 by four Brown graduate students and is an alumnus of Betaspring’s 2010 class of companies. The Tracelytics application performance management solution, now known as TraceView, offers Web developers a holistic view of complex, distributed Web applications across multiple software layers, machines and languages.
AppNeta is revolutionizing IT Performance Management with the first cloud-delivered service for integrated, end-to-end visibility across networks and applications. AppNeta delivers an industry-first SaaS portfolio of end-user experience monitoring services with broad, cross application performance visibility and unprecedented network performance insight. AppNeta arms network and application engineers with the end-to-end visibility needed to know how users experience applications across the network. www.appneta.com