Apprenda Seals $10M Series B
Round led by Ignition Partners with participation from previous investors New Enterprise Associates (NEA) and High Peaks Venture Partners.
CLIFTON PARK, NY, Apprenda, the deploy anywhere Platform as a Service (PaaS) stack for .NET, today announced it has closed a $10 million Series B round of funding. Led by Ignition Partners with participation from previous investors New Enterprise Associates (NEA) and High Peaks Venture Partners (HPVP), the new capital will be used to accelerate the product roadmap, while also expanding marketing and sales for Apprenda's innovative private PaaS and framework.
Frank Artale, managing director at Ignition and who has served as an advisor since the company was founded, will join the board of directors.
"Apprenda has a growing customer base and a scalable business model to help grow into an extremely profitable business as they are solving a key need for enterprises," said Artale. "This is an exciting time for Apprenda as they are rapidly expanding and have an incredibly talented management team and group of engineers. I look forward to working closely with the team as a member of the board of directors."
According to recent analyst predictions, PaaS spending will increase 113 percent by 2014, reaching nearly $460 million. In the past year, Apprenda has experienced significant market traction with over 2,000 new installations of its deploy anywhere private PaaS. As a new breed of cloud-enabled application infrastructure software, Apprenda empowers these organizations to embrace and leverage the full power of cloud computing, multi-tenant architecture and highly efficient grid execution to deliver business critical applications faster and at a dramatically lower cost.
"We are pleased to have the continued support from NEA and HPVP and welcome the new support from Ignition," said Sinclair Schuller, CEO of Apprenda. "Since the company was founded, the market for .NET has dramatically increased and we're eager for the amazing possibilities this new round of financing offers us. We are also delighted to have Frank bring his industry expertise and strategy to the board."
Apprenda is the deploy anywhere Platform as a Service (PaaS) stack for .NET. As a new breed of cloud-enabled application infrastructure software, Apprenda empowers organizations to deploy their own PaaS and framework for developing, delivering and managing the entire lifecycle of their .NET-based applications on any infrastructure. By decoupling applications from infrastructure and providing developers with a self-service, multi-tenant cloud application platform, Apprenda enables organizations to achieve enormous cost savings and faster time to market.
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