DynaTrace Completes $5 Million Series A Round of Financing
DynaTrace software Inc., a leading provider of enterprise application performance diagnostic solutions, recently announced that it has closed on its first round of venture financing for $5 million from Bain Capital Ventures. The financing validates DynaTrace’s strong momentum and position in the rapidly growing market for application performance management. The funds will be used to accelerate the Company’s sales, marketing, and product development efforts in both Europe and North America. In conjunction with the financing, Ben Nye, Managing Director, and Jit Sinha, Principal, will join the Company’s Board of Directors.
Ben Nye, Managing Director, Bain Capital Ventures said, “Customers have long considered the ability to trace a unique transaction path across multiple logical and physical tiers to be the holy grail of application performance management. DynaTrace has found this ‘next generation approach’ for performance management and is the only solution that enables customers to move beyond monitoring and take corrective action. We are eager to work with the talented founding team to quickly scale the DynaTrace organization, and meet the strong, pent-up customer demand for the Company’s solution.”
This funding caps a number of significant milestones for DynaTrace over the past year that include launching DynaTrace Diagnostics in early 2006, and significant revenue growth including establishing a sales presence in Austria, Germany, and the United States.
“We are delighted to partner with Bain Capital Ventures to drive the next phase of DynaTrace’s aggressive growth plans,” said Bernd Greifeneder, founder and CEO, DynaTrace. “We evaluated a number of different financing alternatives and sought to partner with Bain Capital Ventures for their experience in scaling emerging companies with strong growth potential and their deep understanding of the application performance management market.”
“We believe this funding announcement marks the beginning of a big year to come in 2007. We expect to make a number of exciting announcements in the coming months about customers’ adoption of DynaTrace Diagnostics, exciting new enhancements to our solutions, additions to our executive management team, further geographic expansion, and extensions to our partner ecosystem,” added Bernd Greifeneder.
DynaTrace software is the leading provider of application performance diagnostics solutions for business-critical Java and .NET applications. DynaTrace’s technology is the only solution that can trace a unique transaction path across multiple physical tiers and servers enabling customers to move beyond monitoring and take corrective action. In each stage of an application’s lifecycle, from development, to QA, to staging, and through live operation, IT personnel want to see and understand where and why performance bottlenecks exist. With DynaTrace, IT personnel gain a better understanding of the dynamic behavior of the applications allowing them to quickly reconstruct the problem transaction, identify the root-cause of the problem and fix it.
For more information, please visit: www.DynaTrace.com