Apprenda Closes $10M Funding Round, PaaS Going Strong
Apprenda, a PaaS for .NET, has raised $10 million in a second round of funding led by Ignition Partners. Existing investors New Enterprise Associates and High Peaks Venture Partners also participated. The company stated that the fresh capital will be used to accelerate product development, and expand marketing and sales efforts.
Frank Artale, managing director at Ignition, has joined the company’s board of directors.
“Apprenda has a growing customer base and a scalable business model to help grow into an extremely profitable business as they are solving a key need for enterprises,” said Artale. “This is an exciting time for Apprenda as they are rapidly expanding…”
The PaaS market is getting a lot of attention, from companies such as Apprenda, customers, and VC’s. In a statement Apprenda cited recent analysis predictions forecasting a 113 percent growth in spending in this field by 2014, though Apprenda’s not the only one who’s trying to capitalize this growth.
The PaaS market is accelerating competition-wise as well. Heroku, one of the biggest PaaS providers, was selected by a new daily deals startup called Saveology to power its Daily Deals 2.0 site, according to an announcement published this morning.
There some newer players in the field as well, such as CumuLogic. Earlier this month it launched a beta version of a PaaS offering that lets users run Java applications in a vendor-agnostic cloud environment. It supports VMware, Amazon EC2, Cloud.com and others, with OpenStack support coming soon.
Another relatively new player competing with Apprenda is CloudBees. The 16-month old startup raised $10.5 million in Series B funding late last month. The round was led by Lightspeed Venture Partners with Matrix Partners participating, raising CloudBees’ total funding to $14 million.
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