Apprenda Receives $10 Million in Funding for .NET PaaS
Platform as a Service provider Apprenda is seeing some love from investors for its .NET stack, announcing it has closed a $10 million Series B funding round led by Ignition Partners. Previous investors New Enterprise Associates and High Peaks Venture Partners also participated in the funding round.
According to Apprenda, the new capital will be used to accelerate its product roadmap and increase marketing and sales for its .NET private PaaS and framework. And, as per usual with funding deals, Apprenda will welcome Ignition’s managing director Frank Artale to its board of directors.
The funding is significant in the still-nascent PaaS space, the least well-known of the three major –aaS categories. However, PaaS is growing: Renub Research predicts the PaaS market will reach $400 million by 2013.
“Apprenda has a growing customer base and a scalable business model to help grow into an extremely profitable business as they are solving a key need for enterprises,” Artale said in a statement announcing the funding.
No doubt we’ll be hearing more about successful funding rounds for more PaaS vendors as the category matures.