Appcito, a new cloud application infrastructure company, today announced
that it has raised $7.5 million in Series A funding from March Capital
Partners, a venture capital firm; Atlas Venture, an early-stage venture
capital firm; The Fabric, a co-creation company; and an investment
syndicate led by Cheng Wu, a long-time communications technology
entrepreneur.
Appcito was founded to simplify and optimize cloud application delivery
for organizations of all sizes. It has developed a cloud-native, unified
service, offered on a subscription basis, that empowers application and
operations teams to deliver high-performance, highly available, secure
and agile applications.
“Appcito addresses critical problems faced by organizations operating
cloud applications,” said Kamal Anand, CEO of Appcito. “Existing
approaches are either not agile enough for the cloud or they demand too
much of application teams’ scarce resources. Appcito makes it extremely
simple for operations teams to improve the performance, security and
end-user experience of cloud applications, while providing application
owners with an attractive subscription-based pricing model.”
“We are excited to partner with the Appcito team as they develop
breakthrough ways to address challenges in cloud application
operations,” said Sumant Mandal, general partner of March Capital
Partners. “Appcito has a clear vision for dramatically improving a
potentially huge market, with an excellent team that has the proven
discipline to make it happen.”
“Having been associated with the application delivery market for more
than 15 years, I appreciate the significance of the market
transformation that Appcito is leading,” said Cheng Wu, a serial
entrepreneur in the application infrastructure market who was previously
founder of Arrowpoint, Acopia, Azuki Systems and Arris Networks. “The
move to cloud infrastructure and to micro-services application
development models is the trigger for this major transformation, and I
look forward to partnering with Appcito in this necessary effort.”
Appcito’s Cloud Application Front-End (CAFE) Offering Represents a
New Market Category
The application services market—consisting of application delivery
controllers (ADCs), application acceleration and application security
products—is expected to be worth over $6 billion in 2015, according to
estimates by various industry analysts. To overcome the limitations of
existing appliance-based ADCs within cloud computing infrastructures,
Appcito is introducing a cloud-native, service approach—embodied in its
Cloud Application Front-End (CAFE) service—that picks up where
traditional ADCs leave off.
"We are observing the emergence of application delivery controller
capabilities being extended via a cloud-based as-a-service offering.
Gartner anticipates this trend to be of increasing importance as the ADC
market evolves to serve application traffic patterns that do not follow
traditional hub-and spoke/data-center-centric models,” according to the
2014 Gartner, Inc., Magic Quadrant for Application Delivery Controllers.
“Cloud computing is a revolutionary approach to IT that enables users to
choose how they’ll acquire or deliver IT services, while eliminating
many of the costs and constraints of traditional licensing and
provisioning models,” said Chris Lynch, a partner at Atlas Venture.
“Appcito makes enterprise applications secure, performant and highly
available in this new cloud computing paradigm.”
“Enterprises currently face operational headaches, frustrating
inefficiencies and high costs when trying to deliver fast, secure
applications on the cloud,” said Rajan Raghavan, co-founder and CEO of
The Fabric. “Recognizing the need to overcome these challenges, The
Fabric co-created Appcito and continues to collaborate closely with the
company. We feel that Appcito is a classic example of the right team
coming together at the right time to tackle the right high-growth market
opportunity.”
The Appcito team has extensive background in the application
infrastructure market, including senior positions at F5 Networks
(NASDAQ: FFIV), Citrix (NASDAQ: CTXS), Barracuda (NASDAQ: CUDA) and
Cisco (NASDAQ: CSCO).
About Appcito
Appcito, a cloud application infrastructure company, delivers on the
promise of the cloud by transforming how cloud applications are deployed
and operated. Appcito’s cloud-native, subscription-based, easy-to-deploy
Cloud Application Front-End (CAFE) service empowers application teams to
deliver high-performance, available, secure applications with continuous
deployment. By providing end users with more rewarding application
experiences, CAFE enables application owners to attain greater business
agility, cost savings and competitive advantage. Appcito has its
headquarters in Santa Clara, Calif. More information is available at www.appcito.com.
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