May 3 2010
AppDynamics, Inc.™, the next-generation Application Performance Management (APM) company, today announced that it has closed its Series B round of financing, and had raised $11 million. The round is co-led by existing Series A investors Lightspeed Venture Partners and Greylock Partners, and will support the company's continued expansion as it takes advantage of market demand for next-generation application performance management (APM). To date, the company has received $16.5 million in venture funding.
"The strong customer traction and investor interest is tremendous validation of our technology and the market opportunity," said Jyoti Bansal, AppDynamics CEO and founder. "This round was oversubscribed in just a few days, and it gives us a war chest to continue to redefine the application performance management market."
AppDynamics' next-generation APM redefines the Application Performance Management market through its ability to easily and accurately manage distributed applications in high-volume production environments without adding excess overhead, and has contributed to the success of key customers such as Priceline.com and Yap. AppDynamics offers specific capabilities that are required for a next-generation APM solution, including application mapping, transaction flow monitoring, code-level diagnostics, and cloud orchestration.
"Lightspeed and Greylock are both delighted to increase our investment in AppDynamics," said Asheem Chandna, Greylock Partners, and Ravi Mhatre, Lightspeed Venture Partners. "As business-critical applications move to distributed architectures, there is a growing customer need for a new generation of APM solutions. We are excited to partner with Jyoti Bansal and the AppDynamics team to help build the next industry leader in APM."
SOURCE AppDynamics, Inc.