InfoTech | November 26, 2013

Apprenda Secures New Round of Capital Funding

Apprenda has been making a name for itself in the Platform as a Service (PaaS) industry for a few years now.  The company hopes to be able to further strengthen its standing in this market thanks to the completion of a new round of funding led by  Safeguard Scientifics.  In addition, the company hopes to have strengthened its management team. Safeguard Managing Director Philli Moyer has officially become a part of the Apprenda team, taking a position on the company’s board of directors.

As far as how the new money will be used, the company says that the new capital will go towards expanding its global reach. Apprenda CEO Sinclair Schuller announced that it will be putting together a European office that will help it forge strategic alliances with other vendors around the world.

“We’re starting to get some really big customers — not just Fortune 1000 but Fortune 100 — the only thing holding us back is capital,” Sinclair said in a recent statement.

Among the companies that Apprenda is now able to boast as customers are JPMorganChase, Diebold Memorial Sloan Ketterling and Honeywell. The firm has also apparently added Boeing (News – Alert) as yet another big name company on the customer roll.

Among the PaaS solutions that the company is offering to its clients is its Cloud Enabled Application Platform (CEAP), a private cloud solution with the potential to allow the company to compete with big wigs in the industry like Amazon and Microsoft (News  – Alert).

In the past, the biggest knock against the PaaS vertical is that big companies don’t like to spend a ton of time in the area. Firms tend to dip their toes in the PaaS waters but don’t tend to commit to platforms like a public cloud. Apprenda says that it does not have that problem because it deals in the private cloud sector.
gigaOmreport_v5-CTA-button