Wednesday, April 27, 2011

Apparent Networks rebrands as AppNeta with $6.2M

By James M. Connolly

Wellesley-based startup AppNeta today announced its official launch in the cloud-based network performance management space, with a new name and a $6.2 million investment by Bain Capital Ventures, Egan-Managed Capital, JMI Equity, and Business Development Bank of Canada. It also announced the appointment of new board member Alan Matthews, founder and chairman of Rapid7.

The company said it is offering technology developed by Apparent Networks Inc., and its website notes that it was formerly known as Apparent Networks, which was founded in Canada in 2000 and received a $12 million Series C investment in 2009 .

AppNeta positions itself as “the only provider of instant-value network performance management solutions.” It is focused on network performance management of applications in data center, cloud, remote office and mobile environments.

AppNeta product is PathView Cloud, which offers performance management services such as active bandwidth monitoring, active application performance monitoring, remote flow generation and analysis and remote packet capture. Its executives include CEO Jim Melvin, who had been CEO of Apparent Networks since early 2010; chief technology officer Matt Stevens; and co-founder and vice president for networking technologies Fred Klassen.

AppNeta said it has more than 1,000 customers.

In a press release the company said the new investment will help to accelerate technology development and service capabilities.

New board member Alan Matthews has founded network security optimization firm Rapid7, as well as technical recruiting firm Talener, business resource company Northpoint Solutions; and software development firm Axceler.