Apprenda announced on Wednesday that it has received $16 million in a series C financing round led by Safeguard Scientifics. Existing investors Ignition Partners and New Enterprise Associates also participated, bringing the startup’s total capital raised to $31 million.
Founded in 2007, Apprenda offers a specialized platform-as-a-service solution that can be deployed in the cloud or on-premise, which is the preferred option for organizations with specific regulatory compliance, security and data privacy requirements. Unlike competing services, the solution only supports .NET and Java, the bread and butter languages of enterprise IT. Apprenda boasts that its platform is used by AmerisourceBergen, Dell, Symantec, Honeywell and three of the world’s largest financial institutions. JPMorgan Chase alone runs more than 3,000 apps on the software in what is pegged as the world’s largest private cloud deployment.
The startup said that it will use the funding to expand sales and marketing, accelerate product development, and partner aggressively. Co-founder and CEO Sinclair Schuller mentioned that he’s also looking to establish a foothold in Europe.
“For sixty years, Safeguard has supported and funded entrepreneurs and innovations that have had a transformative impact on our lives, and we believe that Apprenda is a game changer for the enterprise cloud market,” commented Philip Moyer, the managing director of technology investments at Safeguard and the newest member of the Apprenda board. “Apprenda has achieved extraordinary traction with thousands of enterprise applications running in production on its platform. With a great team of co-investors coupled with a strong management team, we are excited to support Apprenda as the company expands its leadership in enterprise cloud computing.”