California-based, application solutions firm, AppDynamics has secured USD 120 million in a growth financing led by Battery ventures, Clearbridge Investments and Sands capital. The existing investors Greylock Partners, Lightspeed Venture Partners, Kleiner Perkins Caufield & Byers and Institutional Venture Partners also participated in the round.
The funding includes USD 70 million in Series E round and USD 50 million in Debt Financing. The latest round brings the total capital of the company to date is USD 206.5 million.
The company will use the raised funds for its expansion of Application Intelligence Platform into IT operations and business analytics markets and also accelerate go-to-market investments worldwide, AppDynamics said in a statement.
AppDynamics was launched in 2008 by Founder & CEO Jyoti Bansal. It develops application performance management (APM) solutions that simplifies the management of complex, business-critical apps. It having 391 employees in its current team. Also, the firm had acquired cloud toolset Nodetime for an undisclosed amount.
“This financing will help fuel our continued rapid pace of technology innovation, and expansion of our worldwide sales and go-to-market execution,” Jyoti Bansal said.
Application intelligence is rapidly becoming the foundational management platform for modern enterprises that are going through a digital transformation, he added.
Its application intelligence platform helps software defined businesses monitor, manage and optimise the most complex software environments, all in real time and all in production.
Its customers include Citrix, Edmunds, Expedia, Fox News, John Deere, OpenTable, Salesforce, Sephora, StubHub and Union Pacific Railroad. (As Covered by Economic Times)
It has the opportunity to reshape not only the USD 4-5 billion per year application performance management market, but the broader $20 billion per year IT operations management and $34 billion per year operations and business analytics markets, Bansal said.
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