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Apica Closes Series B Round With $2M for U.S. Expansion(July 14, 2011)
PALO ALTO, CA -- (Marketwire) -- 07/14/11 --
- Leading Swedish VC Firm, Industrifonden, Leads Investment Round
- KTH Chalmers Capital and ALMI Invest Participate in Investment
- Apica to Compete with Silicon Valley Startup SOASTA in Load Testing and Keynote Systems in Performance Monitoring of Cloud and Mobile Applications
Apica, a leading load testing and performance-monitoring provider for cloud and mobile applications, today announced it has closed a $2M Series B round of financing. Industrifonden led the investment. KTH Chalmers Capital also participated by reinvesting in the company, and ALMI Invest joined as a new investor. All investors are Swedish-based and betting on the company's aggressive U.S. expansion plans.
The company recently unveiled Apica Watch, a new cloud service with full support for Selenium, giving customers the ability to monitor their websites from a true end-user perspective. Apica also launched the Apica iPhone application, providing users a rich performance monitoring solution 24/7 from anywhere. In addition, the company inked strategic partnerships with leading cloud players, RightScale and Rackspace.
"We'll use the investment to build out sales and marketing in the U.S. to compete against the likes of SOASTA on load testing and Keynote Systems on performance monitoring, for example. We compete with these companies, however, Apica offers the best fully integrated testing and monitoring solution for cloud and mobile applications." -- Sven Hammar, CEO, Apica
"We're delighted to invest in Apica's business. Given the company's strong entrepreneurial team and robust market segment, we believe that Apica's prospects for success are excellent." -- Johan Englund, Investment Manager, Industrifonden.
"Since our first investment in spring 2007, Apica has undergone fantastic growth -- from a small local player to the point where it is now seriously positioning itself in the U.S. With this investment, the company will have the opportunity to take another big step forward in executing on its expansion plans." -- Jonas Rahmn, partner at KTH Chalmers Capital
Tweet this: @ApicaSystems Cloud testing and performance monitoring player raises $2M in Series B financing for U.S. expansion http://bit.ly/r4kp59
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Industrifonden (www.industrifonden.se) invests in small and medium sized Swedish companies with international growth potential. The Fund has assets of about SEK 3 billion, of which SEK 1.5 billion is invested in around 80 companies in technology, cleantech, life science and industry.
Apica is a leading provider of load testing and performance monitoring solutions that test, monitor and optimize cloud and mobile applications. More than 250 customers, including Newsday, PricewaterhouseCoopers, eBay Sweden and Thomas Cook, use Apica for the highest possible performance standards globally and in the cloud. Apica's products are uniquely designed for cloud infrastructure and have performed some of the largest published load tests ever conducted. Apica WebExcellence Suite includes Apica LoadTest, Apica WebPerformance and Apica WebOverload, for testing applications for maximum capacity, real-time performance, improved load times and protection from peak load. Apica was founded in 2005 and is based both in Stockholm, Sweden and Palo Alto, Calif., with offices in the UK. To learn more about Apica, visit http://www.apicasystem.com.
Danielle Salvato (for Apica)
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