AppDynamics Gets $20M from Kleiner Perkins for App Optimization
Application performance management software vendor AppDynamics announced a Series C funding round, in which it raised $20 million from new investor Kleiner Perkins, and existing backers Greylock Partners and Lightspeed Venture Partners. The company will be making the most of the new capital, spreading it out across its sales and R&D teams in order to grow its customer base as much as possible.
Jyoti Bansal, the founder and current CEO of AppDynamics summed up the VC interest in a statement:
“The continued strong interest from top-tier investors is a great validation of our vision, our market opportunity, and our growth story. The application management market has multiple billion dollars of annual IT spending and AppDynamics is well poised to become the leading solution in the market. The support and expertise of Matt and the Kleiner Perkins team will be critical as we continue to expand our business.”
AppDynamics is relying on several things to sustain its growth; mainly the fact the company addressed the current trends in IT with its software. The cloud, big data and other movements that have an impact on web developers. It also prides itself in a unique sales model. The company received some validating in a recent report by research firm Gartner, which named AppDynamics an APM innovator. Some of the reasons authors Will Cappelli and Jonah Kowall cited included affordability, and simplicity. The latter has been recognized as a big advantage by software makers in the BI market in particular as well as other industries.
AppDynamics is one of several fast-growing tech firms Klenier Parkins invested in. Another is InMobi, a mobile development startup that counts the VC as an investor and just today introduced its own open JavaScript framework. Parkins participated in Puppet Labs’ third round of funding as well.
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