Appedo, a provider of application performance manager(APM) and predictive software analytics, has announced that it has raised $1 Mn in financing from undisclosed private equity sources.
The funding will be used for further product development and for international expansion.
Appedo also plans on changing the Analytics game by not only providing a solution that can meet the needs of today’s agile organizations across all business functions (engineering, marketing and operations) but also leveraging learning and predictive analytics to provide real time and automated self healing and mitigation solutions.
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Speaking on the fund raising and the future company plans, Neil Popli, Appedo founder and CEO, said, “Not only do we provide an integrated APM solution that delivers on all performance monitoring and testing services.This funding will help us establish a global presence, continue building a presence among large enterprises and be the first to deliver on real-time, self learning, predictive and mitigation analytics solutions to automate data-driven business decisions.”
Founded in 2014, Appedo provides intelligent application performance management (APM), predictive and self-healing analytics solutions to businesses of all sizes through a software-as-a-service and private cloud offering. Appedo currently helps customers large and small drive actionable insights in real time to drive ROI for operations, engineering, marketing and business teams.
As per the company, Appedo currently employs 25 employees in Silicon Valley and India and boasts of a 200% month over month growth.
IDC forecasts the traditional analytics business to be worth $59.2 Bn by 2018. Recently, Bangalore-based data analytics startup, Manthan raised about $60 Mn in Series D round of funding led by Temasek and Norwest Venture Partners.