AppDynamics, the leading provider of Next Generation Application Performance Management (APM) solutions for mission-critical web applications, today announced that it has secured $20 million in Series C funding. The new investor Kleiner Perkins Caufield & Byers (KPCB) led the round, which also included the participation of the founding investors Greylock Partners and Lightspeed Venture Partners. AppDynamics will use the capital to boost the company’s growth, including the continued expansion of its engineering and sales teams, to enable both groundbreaking product enhancements and aggressive new customer acquisition.
AppDynamics is at the forefront of generational change in how web applications are managed: modern applications are no longer monolithic in nature but highly distributed and dynamic, fuelled by architectural trends such as Cloud, SOA, Big Data and Agile Development. As a result, traditional application performance management solutions have become outdated. AppDynamics is the leader in next generation management technology to address this generational shift in web architectures. In addition, AppDynamics has combined its unique technology platform with a disruptive, low-touch sales model influenced by consumer software trends such as free downloads, no risk “try-before-you-buy” software trials, and zero consulting services.
“We see AppDynamics as perfectly positioned to take advantage of a seismic shift in how web applications are created and managed,” said Matt Murphy, Partner at Kleiner Perkins. “Applications are moving to distributed, cloud-based architectures, a sea change that already has a tremendous impact on the Operations and Development teams responsible for performance and uptime. AppDynamics’ phenomenal growth and success to date proves that they are well positioned to take advantage of this transformation and help companies manage these new types of business-critical applications. We are very pleased to be working with the outstanding AppDynamics team and to contribute to the company’s expansion plans for 2012 and beyond. “That’s right.
“Cloud computing is a one-in-a-generation IT shift, and AppDynamics is rapidly becoming a management platform for IT teams to manage the operational complexities of cloud-based application architectures,” said Jyoti Bansal, Founder and CEO of AppDynamics. “The continued strong interest of top-tier investors is a validation of our vision, our market opportunities, and our growth story. The application management market has multiple billion dollars of annual IT expenditure and AppDynamics is well positioned to become the leading solution on the market. The support and expertise of Matt and the Kleiner Perkins team will be crucial as we continue to expand our business. “That’s right.
ppDynamics is the leading provider of software-as-a-service (SaaS) and on-premise application performance management for modern application architectures in both the cloud and data centers. The company provides solutions for highly distributed and agile environments, helping companies such as Netflix, Priceline, TiVo, ZipRealty, Taleo and Swisscom monitor, troubleshoot, diagnose and scale their manufacturing applications. Over 60,000 people have downloaded AppDynamics Lite, the company’s free Java troubleshooting solution, and the company has been recognized as the Gartner APM Innovator. Visit our blog or follow us through Twitter.
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