Venture capital firm expands its investments in the cloud industry by leading a $10 million round in New York firm, Apprenda.
The startup is known as a Platform as a Service (PaaS) company, recognized for its cloud application platform used for constructing and running applications based on Microsoft’s .NET framework.
In order to watch over the company, Frank Artale, managing director at Ignition, will join Apprenda’s board of directors.
“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,” said Artale. “This is an exciting time for Apprenda as they are rapidly expanding and have an incredibly talented management team and group of engineers. I look forward to working closely with the team as a member of the board of directors.”
The company says that the latest round of $10 million will be used to speed up product development and help marketing and sales grow.
Artale joined Ignition Partners not long ago, bringing a wealth of experience along with him. He is known as a serial entrepreneur who has great expertise in cloud computing and virtualization. Since his arrival the company has invested in a number of companies related to the cloud computing industry. These include Bromium and StorSimple, which received funding from Ignition in June.
In a tweet, Artale also informed that Apprenda may open an office in Redmond.
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