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Appcito Closes $7.5M Series A Funding by March Capital Partners, Atlas Venture, The Fabric and a Syndicate Led by Entrepreneur Cheng Wu

Appcito, a new cloud application infrastructure company, today announced that it has raised $7.5 million in Series A funding from March Capital Partners, a venture capital firm; Atlas Venture, an early-stage venture capital firm; The Fabric, a co-creation company; and an investment syndicate led by Cheng Wu, a long-time communications technology entrepreneur.

Appcito was founded to simplify and optimize cloud application delivery for organizations of all sizes. It has developed a cloud-native, unified service, offered on a subscription basis, that empowers application and operations teams to deliver high-performance, highly available, secure and agile applications.

“Appcito addresses critical problems faced by organizations operating cloud applications,” said Kamal Anand, CEO of Appcito. “Existing approaches are either not agile enough for the cloud or they demand too much of application teams’ scarce resources. Appcito makes it extremely simple for operations teams to improve the performance, security and end-user experience of cloud applications, while providing application owners with an attractive subscription-based pricing model.”

“We are excited to partner with the Appcito team as they develop breakthrough ways to address challenges in cloud application operations,” said Sumant Mandal, general partner of March Capital Partners. “Appcito has a clear vision for dramatically improving a potentially huge market, with an excellent team that has the proven discipline to make it happen.”

“Having been associated with the application delivery market for more than 15 years, I appreciate the significance of the market transformation that Appcito is leading,” said Cheng Wu, a serial entrepreneur in the application infrastructure market who was previously founder of Arrowpoint, Acopia, Azuki Systems and Arris Networks. “The move to cloud infrastructure and to micro-services application development models is the trigger for this major transformation, and I look forward to partnering with Appcito in this necessary effort.”

Appcito’s Cloud Application Front-End (CAFE) Offering Represents a New Market Category

The application services market—consisting of application delivery controllers (ADCs), application acceleration and application security products—is expected to be worth over $6 billion in 2015, according to estimates by various industry analysts. To overcome the limitations of existing appliance-based ADCs within cloud computing infrastructures, Appcito is introducing a cloud-native, service approach—embodied in its Cloud Application Front-End (CAFE) service—that picks up where traditional ADCs leave off.

"We are observing the emergence of application delivery controller capabilities being extended via a cloud-based as-a-service offering. Gartner anticipates this trend to be of increasing importance as the ADC market evolves to serve application traffic patterns that do not follow traditional hub-and spoke/data-center-centric models,” according to the 2014 Gartner, Inc., Magic Quadrant for Application Delivery Controllers.

“Cloud computing is a revolutionary approach to IT that enables users to choose how they’ll acquire or deliver IT services, while eliminating many of the costs and constraints of traditional licensing and provisioning models,” said Chris Lynch, a partner at Atlas Venture. “Appcito makes enterprise applications secure, performant and highly available in this new cloud computing paradigm.”

“Enterprises currently face operational headaches, frustrating inefficiencies and high costs when trying to deliver fast, secure applications on the cloud,” said Rajan Raghavan, co-founder and CEO of The Fabric. “Recognizing the need to overcome these challenges, The Fabric co-created Appcito and continues to collaborate closely with the company. We feel that Appcito is a classic example of the right team coming together at the right time to tackle the right high-growth market opportunity.”

The Appcito team has extensive background in the application infrastructure market, including senior positions at F5 Networks, Citrix, Barracuda and Cisco.

Published Tuesday, December 09, 2014 12:42 PM by David Marshall
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