TWC News | July 21, 2015

Local Software Company Announces $24M in New Funding (video)

TROY, N.Y. — A local software company is setting itself up for some serious growth.

Troy-based Apprenda, which helps bigger companies build apps and manage their data centers, announced $24 million in new funding.

The money will be used to hire new employees, about 25 to 30 in Troy, as well as expand the company’s reach to more companies.

“When you look at software markets in general they tend to be pretty massive in size. And we work with the world’s largest corporations. Our customers tend to be organizations that really encompass everything we do in our daily lives. You need to be well capitalized, well funded to go after that and actually try to win that market. So for us, it’s a combination of product development and being able to invest in the market itself,” said Sinclair Schuller, the CEO and co-founder.

The end of this fundraising campaign brings Apprenda’s total financing to $56 million.