Appnomic Systems Receives $2.5 Million in Series B Funding
Date: Thursday , December 30, 2010
Appnomic Systems, a provider of application aware IT infrastructure management solutions to large and growing enterprises, has closed a $2.5 million Series B round of funding led by existing investor Norwest Venture Partners (NVP). NVP had previously invested $4 million in the company. “NVP has been very supportive of Appnomic’s growth and we are happy to be extending our relationship with them with this round of funding,” said D Padmanabhan, CEO of Appnomic. The company’s total financing to date stands at $6.5 million. The company plans to use this series B funds to further enhance its sales presence in the U.S., launch operations in Europe and enhance the application aware IT infrastructure management platform.
Appnomic’s Application Aware Infrastructure Performance Management solution has been adopted by many customers including one of the largest banks in India, a leading travel portal and a mid-sized bank in West Africa. Appmeter, the cloud based version of their solution, has been featured on the Rackspace and Amazon cloud for monitoring transaction performance of cloud-based applications. Their existing clients include Rediff.com, Tata Business Support Services Ltd, Tata Sky, Yatra.com, Ramco, DataCore Software, Everest Bank Ltd, and Karnataka Bank. They have also acquired key U.S. customers such as Cypress Semiconductor, Stratus ASP, one of the leading hosting and cloud companies, and continue to experience high demand for its services offering.
The company headquartered in Palo Alto also has its presence in India with offices in Bangalore, Chennai, Hyderabad and Mumbai; Europe and Middle East. “We believe Appnomic continues to be well positioned to address IT management requirements of growing enterprises that are working with both on-premise and hosted/cloud-based technologies. We look forward to partnering with Appnomic to help grow the company further.” said Promod Haque, managing partner, NVP.