AppNeta, a SaaS company that provides network and application performance tracking, has announced that it has raised a $16 million Series C investment round led by existing investors Bain Capital Ventures, Egan-Managed Capital, JMI Equity and Business Development Bank of Canada.
The company hasn’t provided any specific details on how the new capital will be invested, but the latest round of funding takes AppNeta past $47.8 million in investor money, and is its highest single round to date.
App performance management startups have been in the news regularly of late. Google Ventures-backed Crittercism announced a $12 million Series B funding round this month and Twitter acquired Crashlytics in January.
AppNeta has been busy with its own deals too. It acquired Google-backed Tracelytics – also a Bain Capital Ventures portfolio company — in June 2012 in a move that married its network performance management capabilities with Tracelytics’ application performance management.
The result, the company says, is the industry’s first solution it provide full insight into app performance alongside end-user monitoring and 360-degree network performance. Customers can also monitor application path performance and user traffic, while automated packet capture analysis helps troubleshoot problems.
That combination helps developers detect when their users are seeing performance issue with their apps, and bridging the gap between managing networks and apps.
Jim Melvin, CEO of AppNeta notes the importance of the company’s software:
Our customers know they can’t tolerate poor performing applications. They need complete, end-to-end visibility to assure optimal performance and end-user experience of all applications across all locations.
AppNeta says its revenue has grown by more than 150 percent over the last year, and it services “thousands” of customers worldwide.
Headline image via 401(K) 2013 / Flickr