Cloud service firm AppNeta raises $16m
AppNeta, a firm that provides cloud-delivered network and application performance monitoring services for clients’ IT departments, said it has raised $16 million in Series C funding.
“We have seen remarkable growth across our business during the past two years demonstrating a growing demand for SaaS-delivered performance management solutions,” Jim Melvin, chief executive of AppNeta, said in a statement. “Our customers know they can’t tolerate poor performing applications. They need complete, end-to-end visibility to assure optimal performance and end-user experience of all applications across all locations.”
(In this world, SaaS equals software as a service.)
Including this latest round, AppNeta has raised a total of $47.8 million to date, a company spokeswoman said in an e-mail.
Among AppNeta’s clients are Component Assembly Systems, Inc., GitHub, LinkStatus, and the Province of British Columbia.
“Exceptional application delivery and end-user experience depend on understanding the performance of both the network and the applications running on it,” Ben Nye, managing director at Bain Capital Ventures, said in a statement. “AppNeta is leading the market in converging application and network performance management, offering detailed application level performance data together with deep network performance insight. AppNeta is bringing customers end-to-end performance visibility they simply have never had before.”Chris Reidy can be reached at email@example.com.