AppNeta announced that the company has raised $16 million in Series C funding led by Bain Capital Ventures, Egan-Managed Capital, JMI Equity and Business Development Bank of Canada.
“Exceptional application delivery and end-user experience depend on understanding the performance of both the network and the applications running on it,” said Ben Nye, managing director at Bain Capital Ventures. “AppNeta is leading the market in converging application and network performance management, offering detailed application level performance data together with deep network performance insight. AppNeta is bringing customers end-to-end performance visibility they simply have never had before.”
Catchpoint Systems, Inc., also announced it has closed a $3.2 million series A financing round.
First launching its product in 2010, Catchpoint ran 2.9 billion tests for more than 100 customers in 2012 and boasts consistent revenue growth – doubling year-over-year revenue last year. Led by Battery Ventures, the financing will be used to accelerate the company’s growth and product development.
“We were actively looking for the next big thing in infrastructure so investing in Catchpoint was an easy decision,” stated Neeraj Agrawal, general partner, Battery Ventures. “It offers a mature, experienced leadership team with a proven product suite, impressive growth and a strategic vision for what lies ahead. We are confident that Catchpoint will continue to disrupt the performance monitoring industry and quickly become the dominant player.” Battery has deep expertise in Catchpoint’s market, including investments in Akamai, BladeLogic and Tealium. Battery is committed to finding and funding innovative companies in the New York area, and Catchpoint is the tenth such company in its active portfolio.
Catchpoint will leverage the investment primarily to accelerate its market-changing product development roadmap. It will also support aggressive recruiting, further growth of the company’s successful sales team and continued market expansion.
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