NVP injects another $5m in Appnomic Systems
Appnomic Systems, an Indian IT infrastructure management services company, has raised a $5 million Series C round from Norwest Venture Partners (NVP). The VC firm previously invested $4 million and $2.5 million in the company in 2009 and 2010, respectively.
Paddy Padmanabhan, CEO of Appnomic, said the current round will further accelerate the company's growth in Asia and the Middle East, as well as raising its market share in the US.
Appnomic - which provides automated and cloud IT performance management solutions - has trebled its worldwide sales over the last year, with its US operations growing at an even higher rate.
"Appnomic has a proven track record of quality IT performance management for its clients in India, the Middle East and other global markets," Promod Haque, managing partner of NVP, said in a statement. "This investment will be crucial in expanding its product, marketing and sales teams, as well as making engineering enhancements to its already stellar product platforms and services here in the US."
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