Appnomic Systems Gets Rs.26.5 Crore in Series C Funding from NVP
Date: Monday , October 01, 2012
Appnomic Systems, a provider of automated enterprise and Cloud IT performance management solutions, raised Rs.26.5 crore Series C round of funding from Norwest Venture Partners (NVP). This funding brings total investments raised by the company to Rs.66.25 crore, is designated for expanding Appnomic's U.S. market operations and enhancing development of the company's industry leading products and services.
Over the last year, Appnomic's worldwide sales have increased 300 percent. The company's U.S. operation has grown at an even greater rate, including hiring of top performing leaders from industry, leading performance and analytics firms who share Appnomic's vision for the future of IT Advanced Performance Analytics and IT Operations Analytics.
"India, by virtue of being our first market, has now settled down to a predictable growth, a sign of our product maturity as well as our movement from the early adopters to more discerning customers. The current round of funding will help us further accelerate our growth in Asia and Middle East markets, as well as raise our level of penetration in the U.S.," said Paddy Padmanabhan, CEO of Appnomic.
Appnomic's SaaS and enterprise AppsOne and OpsOne solutions automate both complex application performance management tasks and routines, labor intensive maintenance activities respectively. The company's flagship award winning product, AppsOne, is the industry's first Application Behavior Learning (ABL) solution to leverage real-time application usage patterns in its three-dimensional performance management model.