AppDynamics Raises $11 Million in Series B Round
AppDynamics Completes $11 Million Second Round Financing from Greylock Partners and Lightspeed Venture Partners; Company to Expand Sales, Marketing and R&D
SAN FRANCISCO, May 3 /PRNewswire/ -- 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."
About Greylock Partners
Greylock partners with entrepreneurs to help them build market-leading businesses. Over the past 45 years the firm has worked with hundreds of companies, 150 of which have gone on to IPOs and 100 of which have gone on to profitable M&A events, including: Ascend Communications, CheckFree, CipherTrust, Constant Contact, Continental Cable, Decru, Data Domain, DoubleClick, Farecast, Internet Security Systems, Ikanos, Legato, Media Metrix, Millennium Pharmaceuticals, Openwave, Open Market, OutlookSoft, Polyserve, Red Hat, RightNow Technologies, Success Factors, Sun Edison, Tellabs, Trilogy and Wily Technology. Current Greylock portfolio companies include Data Robotics, Digg, Facebook, Imperva, LinkedIn, Palo Alto Networks, Pandora, Picarro, Redfin, Workday and ZipCar. For more information about Greylock Partners, visit www.greylock.com or follow us on Facebook (http://www.facebook.com/greylock) or Twitter (@GreylockVC).
About Lightspeed Venture Partners
Lightspeed Venture Partners is a leading global venture capital firm with over $2 billion of committed capital under management. Lightspeed's investment professionals and advisors work closely with portfolio companies to help them establish global market leadership. The firm is headquartered in Silicon Valley with additional offices in China, India and Israel. Over the past two decades, the Lightspeed team has backed several hundred companies, many of which have become leaders in their respective markets, including Blue Nile, Brocade, Calista, Ciena, DoubleClick, eHealth Insurance, Galileo Technology, Growth Networks, Informatica, Kiva Software, LightLogic, Maker Communications, Metasolv, Phone.com, Quantum Effect Devices, Riverbed, Sirocco, Virsa Systems and Waveset. For more information, visit the Lightspeed website: www.lightspeedvp.com.
AppDynamics is the next-generation Application Performance Management (APM) company that delivers rapid problem resolution for highly distributed applications through easy-to-use transaction flow monitoring and deep diagnostics. Unlike other APM providers, AppDynamics finds the root cause of performance problems without introducing excess overhead or requiring a complex and costly installation. AppDynamics is also the first APM provider to dynamically scale applications in cloud and virtual environments. The company was recently recognized as a Gartner Cool Vendor in IT Operations Management. For more information, visit http://www.appdynamics.com.
AppDynamics is a trademark of AppDynamics, Inc.
SOURCE AppDynamics, Inc.
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