Apparent Networks Inc., a Wellesley, Mass.–based provider of IT performance management solutions, announced that it has raised $12 million in Series C funding. Egan-Managed Capital led the round, and was joined by return backers Bain Capital Ventures, JMI Equity and Business Development Bank of Canada. The round closed last November, and brings Apparent’s total venture capitalization up to around $36 million.
Apparent Networks, Inc., the only IT performance management provider that delivers the end-to-end service insight required for today’s cloud applications, today announced that it has raised an upsized $12 million in Series C funding. Led by Egan-Managed Capital, this funding round was also fully supported by existing investors Bain Capital Ventures, JMI Equity and Business Development Bank of Canada.
With the new funding and key additions to its senior management team also announced today, Apparent Networks will capitalize on the rapidly growing need for performance management solutions for use with complex, extended networks and applications to reach customers’ distributed end users. Additional perspective on today’s news from company executives and investors can be found on the Apparent Networks’ blog.
“Today’s networks are changing, and IT departments are increasingly relying on technologies such as virtualization, cloud computing and new IT services from outsourcers to cost-effectively support business operations,” noted Mike Shanahan, Managing Partner of Egan-Managed Capital. “Apparent Networks has the only solution with the end-to-end performance management capabilities that are required in these new environments.”
Apparent Networks provides a radically different and superior approach for assessing, measuring and diagnosing complex networks, including LANs, WANs and service providers’ clouds. The company’s patented path-based solutions deliver end-to-end insight into the entire application path, including areas previously beyond the network manager’s line of sight. Apparent Networks enables users to quickly and efficiently identify problems within their own networks, their carriers’ clouds, and even their customers’ environments.
“Path-based management enables customer organizations to improve the productivity of their end users,” said Benjamin Nye, Managing Director of Bain Capital Ventures. “To realize the substantial efficiency gains and cost reductions of virtualized, cloud-based, and service provider-hosted applications in increasingly dynamic environments, organizations need advanced network performance management capabilities. Apparent Networks’ solutions meet this need with truly unique network visibility and insight.”
“The input from Egan-Managed Capital, and the support from Bain Capital Ventures, JMI Equity and Business Development Bank of Canada will be instrumental in fueling Apparent Networks’ innovation and market leadership,” said Jack Sweeney, CEO of Apparent Networks. “With these new resources, and the additions to our senior management team, Apparent Networks is well-positioned for significant growth. Leading IT outsourcers, MSPs and enterprises are increasingly relying on our path-based solutions to provide application and network teams with the information and insight they need to assure reliable application delivery.”
About Apparent Networks
Apparent Networks is the only IT performance management provider that delivers the end-to-end service insight required for today’s cloud applications. By experiencing network performance without affecting it, the company’s patented path solutions assess network readiness, monitor service levels, and diagnose problems otherwise hidden from sight. Leading companies rely on Apparent Networks to assure application delivery and expand their service portfolios with confidence. For more information, visit www.apparentnetworks.com.