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Apica Raises $5M in Series C Financing

By TechTaffy Desk

[Techtaffy Newsdesk]

Apica, a load testing and performance monitoring provider for cloud and mobile applications, has closed a $5 million Series C financing led by SEB Venture Capital. Existing Swedish investors Industrifonden, ALMI Invest, and KTH Chalmers Capital also participated in this round and will maintain their respective shareholdings.

Apica says it will use the funds for product development, marketing support, and expanding server and testing capacity for the company’s cloud and mobile testing and monitoring services worldwide, especially in the U.S.

Apica raised $2 million in Series B financing last July, led by Swedish investor Industrifonden. The financing enabled Apica’s U.S. expansion, which included the addition of Palak Patel, who joined the company as Vice President of U.S. Sales to lead these efforts. Apica has forged strategic partnerships with cloud providers, including RightScale, Rackspace, and Amazon Web Services, for the testing and monitoring of cloud environments. The company’s load testing and performance monitoring solutions are now also available within the Amazon Web Services Marketplace.

[Image Courtesy: Apica]

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