AppDynamics Closes $158 Million in Growth Financing to Fuel Platform and Sales Expansion
eBay’s Former CFO Robert Swan Joins AppDynamics Board
AppDynamics, a leading application intelligence company, today announced it has secured $158 million in growth financing from new investors led by General Atlantic and Altimeter Capital, with participation from Adage Capital, Industry Ventures, Goldman Sachs, and Cross Creek Advisors. Existing investors IVP, Greylock Partners and Lightspeed Venture Partners also participated in the round.
“Virtually every business in every industry is going through a digital transformation to stay competitive and AppDynamics is at the heart of this transition,” said David Wadhwani, president and CEO of AppDynamics. “We are excited to partner with General Atlantic and Altimeter Capital, as well as our other investors, as we look to accelerate product innovation, expand our offering, and fuel our sales and marketing activities.”
In conjunction with General Atlantic’s investment, Robert Swan, an operating partner at General Atlantic and former CFO at eBay, Inc., will join the AppDynamics board of directors.
“As global business is transformed by the digital economy and enterprise infrastructure moves to the cloud, CIOs are re-architecting their organizations’ IT strategies to take advantage of this trend. AppDynamics sits at the center of this shift, and is well-positioned to help enterprises make the digital transformation,” said Brett Rochkind, managing director and co-head of General Atlantic’s Internet & Technology sector. “We are excited to partner with the AppDynamics management team and look forward to working closely with them to scale the business globally and build AppDynamics into the next great enterprise software company.”
Kevin Wang, partner at Altimeter Capital, said, “AppDynamics has transformed the way developers and IT teams deploy and run the business-critical software that drives the world today. We’re amazed by the vision, elegance, and power of AppDynamics’ products and services, which has resulted in so many happy and delighted customers. It’s an honor to work with the AppDynamics team as they continue expanding their next-generation Application Intelligence Platform and building an iconic enterprise software company.”
About The AppDynamics Application Intelligence Platform
The AppDynamics Application Intelligence Platform provides a real-time, end-to-end view of application performance and its impact on digital customer experience, from end-user devices through the backend ecosystem — lines of code, infrastructure, user sessions and business transactions. The platform was built from the ground up to handle the most complex, heterogeneous, distributed application environments; to support rapid identification and resolution of application issues before they impact users; and to deliver real-time insights into the correlation between application and business performance. It redefines the scope and role of application performance management (APM) with a comprehensive, unified monitoring and analytics solution that is lightweight, immensely scalable, and fast and easy to deploy on-premises, as SaaS, or a hybrid.
AppDynamics is the application intelligence company that enables enterprises on the path to digital transformation to proactively manage customer experience. The AppDynamics Application Intelligence Platform delivers the next generation of application performance management and analytics software to monitor, manage, analyze, and optimize customer experiences and the most complex software environments behind them. Built for today’s software-defined businesses, the platform provides a real-time, end-to-end view of application performance to help companies more effectively compete and win in their market, realize higher customer satisfaction, increase revenue, and lower costs. Many of the world’s largest and most iconic brands choose AppDynamics to manage the software that drives their digital transformation, including Citrix, Concur, DIRECTV, eHarmony, Kraft, MTV Networks, NASDAQ, Nike, Pearson, Progressive Insurance, and Sephora. For more information visit appdynamics.com.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector-specific expertise, long-term investment horizon, and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Greenwich, Palo Alto, Sao Paulo, Mexico City, London, Munich, Amsterdam, Beijing, Hong Kong, Mumbai, and Singapore. http://www.generalatlantic.com/.