Web: AppDynamics raises new funding at $1.9B valuation

December 2015 by: From The Web

AppDynamics Inc., whose software helps companies monitor the performance of their networked applications, raised $158 million from new and current investors, nearly doubling its total funding to $335 million.


Valuation didn’t double but was up by about 73% to $1.9 billion, according to a person familiar with the company. This compares with its past valuation of $1.1 billion in July 2014. A competitor, New Relic Inc., which went public in December, had a market cap on Monday of $1.83 billion.


AppDynamics changed chief executivesin September, naming former Adobe Systems Inc.General Manager David Wadhwani as CEO and moving founder Jyoti Bansal to executive chairman and chief strategist. In aregulatory filing in October, the company said it was seeking $150 million for this latest round.


Mr. Wadhwani said, “I was brought on board to take the company public and intend to do so,” although he declined to discuss specifics.


He said “the lion’s share” of the new funding will be invested in go-to-market activities such as sales and marketing, although AppDynamics is also investing in new products.


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