News
High Peaks Closes Investment in SaaS Platform Company Apprenda
High Peaks is pleased to announce a $500,000 investment in Clifton Park based Apprenda. The capital will enable Apprenda to complete their beta testing phase and move to full commercial launch of its Software as a Service (SaaS) platform, SaaSGrid.
“As a solution, SaaSGrid will help catalyze the next wave of software as a service offerings. Having High Peaks on-board as an investor and a valuable partner creates a foundation for Apprenda to establish our position as a leader in this new and expanding market.” said Sinclair Schuller, CEO of Apprenda, Inc.
“We are excited to invest in Apprenda,” Jonathan Stillman of High Peaks Venture Partners said. “The company has developed important and widely applicable software technology for the rapidly growing market for on-demand software services, and has a talented team in place. We look forward to working with them to help realize the company’s potential.”
Apprenda is an emerging leader in providing infrastructure software that enables the rapidly growing software-as-a-service (SaaS) marketplace. SaaS is a delivery model for software applications that is very attractive to users. It allows users to avoid the costs and headaches of licensing and managing software. Instead they “rent” their software on a subscription basis and access the applications over the web via a web browser.
Software providers need to rapidly respond to the growing popularity of the SaaS approach by delivering both new and pre-existing software applications as on-demand services over the web. The details of how one accomplishes this from both implementation and operational aspects, however, are complicated.
Apprenda has created SaaSGrid, a platform that reduces significantly the complexity and expense that software companies would otherwise incur in moving to SaaS deployment of applications. SaaSGrid provides software companies with a starting point for development that includes all the necessary mission critical components as well as operational management over the application. SaaSGrid removes the need for them to worry about SaaS architecture specifics: it provides a highly flexible, scalable, and reliable online environment for deployment, and enables developers to focus on their core application. As a result, software providers are able to get their SaaS offerings to market faster, with lower capital requirements, and with significantly greater initial quality, which in turn reduces ongoing maintenance needs.
