Industry News

Finsmes: “Apica Raises USD$12M in Funding”

Finsmes, the Private Equity and Venture Capital newswire, reports that Sweden’s Apica, a Renovata client, has secured a further $12m in funding. Apica is a fully cloud-based performance platform for optimising and monitoring loads on complex and distributed web and mobile services. It allows companies and developers to test applications to full capacity, predict loads, manage web delivery performance and protect online services from peaks.

Whilst this is Apica’s sixth round of funding in a decade, it is the company’s first injection of capital in five years. Finsmes reports that the round was led by new participant, Oxx, a growth capital investment firm focused on B2B software companies. Existing investors Industrifonden, SEB Venture Capital and Swedish early-stage investor KTH Chalmers Capital also contributed to the round.

The investment will be used to grow the business’ market presence beyond the Nordics, particularly elsewhere in Europe and the US.

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