Apica Systems raised in $12.7m in new funding by the existing investors Industrifonden, SEB Venture Capital, Oxx and KTH Chalmers Capital..
This new investment will be leveraged to grow product offerings, expand talent base and increase global market share. Apica’s strong deal closures and expansion strategies are the key drivers of the new investment round.
Apica was founded in 2005 in Stockholm, Sweden, and now has offices in New York, Los Angeles and London. Customers include companies such as Scholastic, Klarna, Q2ebanking, Etihad and Sweden’s TV4. Enterprise organizations choose Apica because of its leadership in optimizing system performance and preventing system failures.
“This new round of funding from our existing investors expresses their confidence in us and the momentum we have achieved to date,” said Sven Hammar, CEO of Apica. This investment will support the expansion of our teams in North America and Globally to address the challenges enterprise organizations face in managing complex applications.”
“Apica is a quintessential Oxx investment. There is market excitement in what they do, it’s run by a very strong team of professionals and they have great traction within their target market segments,” said Mikael Johnsson, Oxx General Partner. “The need for performance testing and monitoring is growing as more and more organizations are under pressure to deliver applications and services faster and more reliably. Apica is at the center of this market trend and is positioned well in meeting the demands required to deliver on application performance needs.”
“We see great things with Apica and its continued growth,” said Johan Englund, Industrifonden Investment Manager. “It was only natural to invest once again in the products and professional/technical teams leading the company to new markets and heights.”
“From day one, Apica has been meeting our goals and expectations based on its ability to close deals and expand into new markets,” said Andreas Pennervall, SEB Venture Capital Investment Manager. “As has always been our expectation, we see great things in Apica’s future. Market trends like IoT, Cloud and API require better testing and monitoring. Apica is the company to not only fill this need, but scale to its enterprise customers’ needs.”
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