AppDynamics’ application-intelligence platform helps software-defined businesses proactively monitor, manage and optimize the most complex software environments.
Background:
AppDynamics was founded in 2008 by Jyoti Bansal. As a software engineer, Bansal recognized that as modern software applications became more complex, organizations would need more sophisticated application-monitoring solutions—the existing solutions were no longer up to the task. The desire to solve this problem led Bansal to found AppDynamics, a project he started out coding on his couch in San Francisco during nights and weekends.
AppDynamics quickly grew to become a leader in next-generation, application-performance management, and Battery closely tracked its growth. Building a close relationship with Bansal over the course of several years, Battery eventually secured the chance to lead the company’s Series E financing in 2014.
Battery’s Impact:
- Battery served as a board observer at AppDynamics and helped advise on business model and product growth, including helping facilitate a partnership with Battery portfolio company Catchpoint.
Outcome:
In January 2017, Cisco swooped in to acquire AppDynamics for $3.7 billion just days before the planned IPO of the company.
Battery developed a deeply collaborative relationship with Bansal, going on to fund his next startup–intelligent software delivery platform Harness–and to co-invest alongside his new venture firm Unusual Ventures. Bansal has also served as an advisor to other Battery portfolio companies.
The presented case study investment was made in particular economic and market conditions. There can be no assurance that Battery Venture would elect, or be able, to exploit similar opportunities in a similar manner under similar or different economic and market conditions. More generally, there can be no assurances that the Battery vehicles will have comparable investment opportunities in the future. No assumptions should be made that any investments identified above were profitable. It should not be assumed that recommendations made in the future will be profitable or comparable to the portfolio company described in this case study. For a full list of all Battery Ventures investments, please click here.
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