New investment will fund accelerated product development schedule and continued growth of
worldwide sales operations.
Framingham, Mass. – October 16, 2013 – Correlsense, the industry’s leading enterprise application performance management (APM) company, today announced that it has closed a new round of venture financing totaling $4.2 million. With this investment, the company has raised $14.5 million in the last fifteen months. The funds will be used to release new versions of its SharePath platform and to expand its worldwide sales footprint.
All existing investors participated in the round. These include Accel Partners, Dell Ventures, Vertex Venture Capital, ProSeed Venture Capital Fund, eXeed Technology Investment, and Technion Research & Development Foundation.
“We have reached an inflection point in the performance monitoring market,” said Bruce Golden from Accel Partners, which led the round. “The early adopter phase of APM was driven by developers of new applications. As the market enters the mainstream, complex enterprise applications require a more sophisticated approach to ensure they deliver continuous business value.”
Enterprise applications are highly complex. They are often composite applications spanning new software, legacy code, and packaged solutions. Employees and customers may access them from Internet browsers, terminals, or rich clients like desktop workstations. A single user transaction may touch several servers and applications inside the company, at remote sites, and travel into the cloud.
Ken Marshall, CEO at Correlsense said, “Our SharePath software tracks performance issues across the most complicated environments and identifies the source of any issue. Once identified, SharePath customers can easily view the details and determine the best course of corrective action. SharePath also helps customers predict and prevent potential problems and capture information that may be used to provide better customer service and improve business processes.”
Correlsense develops enterprise application performance management and IT monitoring software for major corporations worldwide. It is the APM product of choice for business and IT operations managers that rely on complex and critical enterprise applications. Correlsense paints a complete and dynamic picture of IT service levels and performance for applications that span mobile, SaaS, cloud, data center and legacy environments. SharePath customers include some of the world’s largest financial, telecom, and healthcare firms. For more information, visit www.correlsense.com.
Phone +1 508-318-6488 x211