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Jyoti Bansal founded AppDynamics raises $11 Million
By siliconindia
Bangalore: AppDynamics, a San Francisco-based provider of application performance management solutions, has raised $11 million in Series B round of venture funding. This financing round is led by the return backers - Greylock Partners and Lightspeed Venture Partners.
To date, the company has received $16.5 million in venture funding. According to the company, the new funding round will support the company's continued expansion as it takes advantage of market demand for next-generation application performance management (APM). "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' 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. Foundeed in 2008, 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."
