Appedo, a provider of application performance manager (APM) and predictive software analytics, has announced $1 million in financing from undisclosed private equity sources. The funding will be used for product development and expansion of the company’s international presence.
“This funding will help us establish a global presence, continue building a presence among large enterprises and be the first to deliver on real-time, self learning, predictive and mitigation analytics solutions to automate data-driven business decisions,” said Neil Popli, Appedo founder and CEO.
Founded in 2014, Appedo provides application performance management (APM), predictive and self healing analytics solutions to businesses of all sizes through a software-as-a-service and private cloud offering. The company currently helps customers large and small drive actionable insights in real time to drive ROI for operations, engineering, marketing and business teams. It is a cloud based (SaaS or private cloud) integrated platform that provides business analytics, performance insights, user analytics and mitigation tools for user to respond at the speed of business.
It has 25 employees in Silicon Valley and India, which it plans to double by Q3 and is also seeing a 200% month over month growth. In May 2015, it will deliver the real-time, self learning, predictive and mitigating analytics solutions for enterprise software.
Recently, Bengaluru-based big data analytics startup, Manthan had raised USD 60 million in Series D round led by Temasek and Norwest Venture Partners. IDC forecasts the traditional analytics business to be worth USD 59.2 billion by 2018.
Another player in this space, Tookitaki, had recently secured USD 1 million in seed funding led by Jungle Ventures with participation from Redbright Partners and Blume Ventures. Data analytics startup Indus Insights had secured Series A funding from Hive India.