Apprenda Secures $16M Series C to Accelerate Momentum and Transform Enterprise Software Development

CLIFTON PARK, N.Y., Nov. 20, 2013 /PRNewswire/ -- Apprenda, the leader in enterprise Platform as-a-Service (PaaS), today announced a $16 million Series C financing round led by Safeguard Scientifics, Inc. (NYSE:SFE) with participation from existing investors Ignition Partners and New Enterprise Associates. In addition, Philip D. Moyer, managing director, technology, Safeguard, will join Apprenda's board of directors.

Apprenda will use the funding to accelerate adoption of its private Platform as-a-Service (PaaS) that has helped existing Global 2000 and mid-market enterprise customers including JP Morgan Chase, Memorial Sloan Kettering and AmerisourceBergen optimize IT and realize new revenue streams through software built on Apprenda's platform. Apprenda will also use the Series C to expand the aggressive customer growth the company has enjoyed by building out product, strategic alliances, sales, client services and marketing functions. The Series C round brings the company's total financing to date to $32 million.

"For sixty years, Safeguard has supported and funded entrepreneurs and innovations that have had a transformative impact on our lives, and we believe that Apprenda is a game changer for the enterprise cloud market," said Moyer. "Apprenda has achieved extraordinary traction with thousands of enterprise applications running in production on its platform. With a great team of co-investors coupled with a strong management team, we are excited to support Apprenda as the company expands its leadership in enterprise cloud computing."

"Cloud has caused a major disruption in IT infrastructure creating a new breed of software-defined enterprises that are turning to PaaS to modernize infrastructure and build applications faster, better and more cost-effectively in order to impact the bottom line," said Sinclair Schuller, co-founder and CEO, Apprenda. "Apprenda has seen massive adoption in the enterprise space with the leading Global 2000 companies using our solution to fuel application development, and we plan to use this round of funding to continue to grow our market share as more companies turn to us for private and hybrid PaaS solutions."

Background on Apprenda:

• Founded in 2007, Apprenda is the leading PaaS solution that empowers customers to realize new revenue streams from software and applications built on its platform. The company is headquartered in Clifton Park, NY.
• Thirteen of the world's top 20 financial institutions, including JP Morgan Chase, are using Apprenda's private platform-as-a-service (PaaS) technology to enable cloud application deployments and increase business agility. JP Morgan Chase currently has the largest private PaaS deployment in the world with more than 3,000 applications running on Apprenda.
• Fortune 500 companies including AmerisourceBergen, Dell, Honeywell, JPMorgan Chase and Symantec are Apprenda customers.
• Apprenda powers mobile banking, cancer treatment and enterprise smart glass applications, among other mission-critical software.
• Apprenda was recently named by Gartner as an early leader for private cloud enabled application platforms (CEAP) in Gartner's "Comparing Cloud Platform Options for .NET Applications."

About Apprenda
Apprenda is the leading enterprise Platform as a Service (PaaS) powering the next generation of enterprise software development in public, private and hybrid clouds. As a foundational software layer and application run-time environment, Apprenda abstracts away the complexities of building and delivering modern software applications, enabling enterprises to turn ideas into innovations faster. With Apprenda, enterprises can securely deliver an entire ecosystem of data, services, applications and APIs to both internal and external customers across any infrastructure. From the world's largest banks like JPMorgan Chase to healthcare organizations including AmerisourceBergen, Apprenda's clients are part of a new class of software-defined enterprises, disrupting industries and winning with software. For more information, visit Apprenda at www.apprenda.com.

SOURCE Apprenda