Appnomic Systems, an infrastructure management services (IMS) company (formerly Vitage Technologies), announced that it has secured Rs.20 Crores from Norwest Venture Partners (NVP), a global venture capital firm. Appnomic Systems, headquartered in Bangalore, India, with operations in India, Middle East and Africa, will use this funding to strengthen its existing market presence, expand into the US market and further build out its innovative product and service offerings. As part of the investment, Promod Haque, Managing Partner, NVP, will join Appnomic’s board of directors. This NVP-led investment is the first institutional round of funding for Appnomic, and NVP’s third major investment in the rapidly growing next-generation services sector in India.
“The managed services market is already a mature industry, however the offshoring of infrastructure management services (IMS) to India is still in its infancy. The market opportunity for IMS in India is predicted to be as large as the application development and management (ADM) sector, and it is regarded as the ‘third wave of outsourcing’ (after ADM and BPO/KPO),” said Promod Haque, NVP. “The growing pressure on corporations to better handle the complex IT requirements demanded by internal and external regulators is accelerating the need for simplification and efficient management of IT at a low cost, and we believe that 70 to 75 percent of infrastructure management opportunities can be offshored. Appnomic has the next generation technology, proven customer traction and seasoned team necessary to capitalize on this growing market need.”
“The demand for highly automated, infrastructure management services (IMS) is on the rise, and the timing of this financing couldn’t be better as we expand our company and offerings and address this rapidly expanding market,” said, D Padmanabhan, MD & CEO of Appnomic Systems.
Appnomic’s Offerings and Customer Traction
Appnomic’s patent-pending application management services platform provides mid to large size corporations with end-to-end analysis of the application load, response and infrastructure behavior in production and pre-production environments. This approach simplifies the complexities involved in managing the performance of a heterogeneous application environment by using automated intelligent analysis.
Source: India PRwire
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