AppDynamics founder builds for the cloud and mobile market after investors infusion
The founder of AppDynamics Inc, Jyoti Bansal, had left CA Inc half a decade ago to create a competitive business software that monitors applications. The new startup he established is now near USD100 million in annual revenues, setting the stage for a possible initial public offer.
Bansal had formed AppDynamics for the purpose of maximizing the cloud and mobile computing purposes to cater to firms who develop data-intensive applications. Their current clientele includes the travel site Expedia Inc and cable provider Cablevision Systems Corp. These two firms and many others pay AppDynamics above USD1 million per year to spot glitches in servers and databases.
AppDynamics is competing for a larger market share for the information technology operations and management software market. According to Gartner Inc, the market had grown by 4.8% to a volume of USD18 billion in 2012.
According to Bansal, "The market is primarily dominated by the dinosaur vendors. Most of these companies are really struggling and the market share is rapidly getting taken over by companies like us." His company recently raised USD86.5 million from investors such as Greylock Partners and Kleiner Perkins Caufield and Byers.