Apprenda, the creator of the world’s first SaaS application server, has closed a USD5m investment round led by global venture capital firm New Enterprise Associates.
Existing investor High Peaks Venture Partners also participated in the round of funding.
SaaSGrid provides a solution to the architecture and management complexities of delivering software across distributed web scale environments.
Cloud computing is driving software companies toward on-demand delivery models and enterprises toward aggregating internal and external compute resources into cohesive delivery networks for their internal software. SaaSGrid, a distributed application execution layer, mitigates the traditional burdens associated with tackling these trends.
"In the current economic climate, far fewer venture investments are being made, so we view this funding as a strong vote of confidence in our product, technology and team," says Sinclair Schuller, chief executive and co-founder of Apprenda. "Our investors recognise that SaaSGrid’s technology will play a key role in the transformation of software architecture and delivery. We’re already seeing our SaaSGrid customers achieving 30-60 per cent reductions in software development and deployment costs, and taking their on-demand solutions to market at a much faster rate."
Peter Sonsini, partner at NEA, and Tom Grossi, principal at NEA, will join Apprenda’s board of directors.
"As an investor in some of the world’s most successful SaaS and infrastructure software companies, NEA has witnessed first-hand the challenges of deploying applications at massive scale," says Grossi. "We believe SaaSGrid addresses a tremendous need in the market, enabling the efficient deployment of SaaS offerings and private software delivery clouds."
