Apica Systems, performance monitoring and testing solutions provider, announced recently it has raised in $12.7 million in new funding by the existing investors Industrifonden, SEB Venture Capital, Oxx and KTH Chalmers Capital.
This new investment will be leveraged to grow product offerings, expand talent base and increase global market share. Apica’s strong deal closures and expansion strategies are the key drivers of the new investment round.
“This new round of funding from our existing investors expresses their confidence in us and the momentum we have achieved to date,” said Sven Hammar, CEO, Apica. This investment will support the expansion of our teams in North America and Globally to address the challenges enterprise organizations face in managing complex applications.”
Apica was founded in 2005 in Stockholm, Sweden, and now has offices in New York, Los Angeles and London. Customers include companies such as Scholastic, Klarna, Q2ebanking, Etihad and Sweden’s TV4.
“Apica is a quintessential Oxx investment. There is market excitement in what they do, it’s run by a very strong team of professionals and they have great traction within their target market segments,” said Mikael Johnsson, Oxx General Partner. “The need for performance testing and monitoring is growing as more and more organizations are under pressure to deliver applications and services faster and more reliably. Apica is at the center of this market trend and is positioned well in meeting the demands required to deliver on application performance needs.”