AppNeta, whose monitoring services let devops teams track the performance of a website, the networks it uses and the external applications it depends on, announced on Monday a $16 million Series C round of venture funding, demonstrating that investors still like the area despite a crowded market.
Bain Capital Ventures, Business Development Bank of Canada, Egan-Managed Capital and JMI Equity led the round, which brings the total AppNeta has raised to $47.8 million.
AppNeta, which has offices in Boston and Vancouver, B.C., offers Software as a Service (SaaS) that gauges the performance of the components of a customer’s site and lag times attributable to web servers, the network and an end user’s browser. Those services are known as application-performance management (APM). The SaaS also breaks out performance of the networks underlying the apps and data the site depends on to run on end users’ devices — what’s called network-performance management (NPM). The data from AppNeta can quickly show devops employees when and how performance is not meeting service-level agreements (SLAs) and take action accordingly.
The APM market looks a bit like a venture capital and product-feature arms race. Last week New Relic, fresh off an $80 million round of funding, announced the ability to monitor end users’ mobile experiences. After recently picking up $50 million, AppDynamics moved more toward IT automation in a new product release last week, and it appears poised to add mobile-app support in the near future.
The NPM market lacks the current momentum of APM, although there is competition from SevOne, which got $150 million in January; Riverbed and other vendors.