performance management
Greylock Partners

AppDynamics, A “Unicorn,” Raises Fresh $83.4 Million, And It’s Targeting More

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Checking In On Windows 10

Looks like investors approve of former Adobe digital chief David Wadhwani.

Just weeks after it was announced that Wadhwani has joined seven-year-old, San Francisco-based AppDynamics as its new CEO, an SEC filing shows the company has raised a fresh $83.4 million in funding as part of a round that’s targeting up to $150 million.

AppDynamics makes software to monitor the performance of business applications, competing with some traditional firms like IBM, as well as younger outfits like New Relic, which went public last December and has seen relatively steady stock performance since. (New Relic, which raised $214 million in venture funding, is currently valued at $1.8 billion.)

According to CrunchBase, AppDynamics has raised roughly $206 million to date in debt and equity, excluding its newest funding.

The company most recently disclosed a $120 million round — $70 million equity and $50 million of debt — in July of last year. At the time of the funding announcement, then CEO Jyoti Bansal told VentureBeat that the money represented “pre-IPO growth financing,” though he didn’t disclose when the company might attempt a public offering.

The round valued AppDynamics — which claimed more than 1,300 customers at the time, including restaurant-booking service OpenTable — at more than $1 billion.

Bansal, who founded AppDynamics, is now the company’s executive chairman and chief strategist.

When Wadhwani — who spent a decade at Adobe — was brought aboard last month, Bansal said in a statement: “With David as my partner focused on scaling the company, I can focus on driving the company’s vision, strategy and innovation agenda as we expand into new categories and new markets.

Some of AppDynamics’ investors to date include Battery Ventures, ClearBridge Investments, Sands Capital Ventures, Greylock Partners, and Kleiner Perkins Caufield & Byers.

(H/T: EquityZen)