Ignition Partners Leads $10 Million Series B Funding Round for Apprenda

Based in Clifton Park, New York, Apprenda is an innovator which has developed a Platform as a Service or PaaS which can be deployed anywhere for the .NET industry. The company announced on August 8, 2011, that it has secured $10 million in a series B funding round that was led by Ignition Partners. Other investors who participated in this funding round include the company’s existing investors, NEA and High Peaks Venture Partners.

Apprenda’s mission is to provide an in depth database for IT service providers. The company has accomplished this by creating a PaaS which can be deployed anywhere and allows IT providers to be able to provide customers with the data they need with fewer costs. One of the biggest selling points of the PaaS that Apprenda offers customers is that it can be set up as a private portal for those companies which can provide private data to certain employees or customers.

Some of the features that Apprenda’s PaaS offers customers is multi-tenancy. This means that the platform has two tiers of tenancy which allows companies to manage the online tenants with zero effort. Furthermore, the Apprenda platform also allows guest tenants to be able to use a finer grained version and can give or deny access to certain data.

Though the effortless multi-tenancy can be a great plus for customers, there are many more great features that include high availability and load distribution, subscription entitlements, and more.

Some of the other benefits that Apprenda offers include the ease of which an IT provider can create new apps, increase the infrastructure up to over ten times, standardize application architecture and increase its agility, and more.

As part of the agreement with Ignition Partners leading the funding round, the firm’s managing partner, Frank Artale, will be joining the company’s board of directors. According to Mr. Artale, Apprenda has developed a versatile product which has grown its customer base three fold. Furthermore, the company has a scalable business model which can allow it to enter in an ever changing market and be very profitable. Mr. Artale further added that what lies in the success in Apprenda is that the company has a product that helps business meet many unmet needs with their IT systems. Mr. Artale completed by stating that he and his team at Ignition Partners are very excited to be on board.

Ignition Partners is a premier venture capital firm which is dedicated to find the finest entrepreneurs seize the opportunity to make it big and disrupt the markets. Ignition Partners typically seeks out and invests in budding entrepreneurs who are potential leaders in the communications, internet, software, business services, and consumer services industries. Some other companies in Ignition’s portfolio include Airband, Modiv Media, Earth Class Mail, SeaMobile, FiREapps, HyperQuality, and others.