August 10, 2011, 3:30 PM — Venture capitalists continue to pour money into the Platform as a Service (PaaS) market.
Two weeks ago it was Java apps startup CloudBees. On Tuesday it was Apprenda, which closed a $10 million funding round led by Ignition Partners and including existing investors New Enterprise Associates (NEA) and High Peaks Venture Partners (HPVP). (Also, the word is we may see another one tomorrow. Check back.)
Prior to Tuesday's announced funding, Apprenda had raised $6 million through NEA and HPVP.
Based in Clifton Park, N.Y., Apprenda's namesake Platform as a Service (PaaS) software is designed for enterprises using Microsoft's .NET framework to deploy cloud-based applications.
Apprenda's not quite a startup: It was founded in 2007 by chief executive Sinclair Schuller and VP of client services Matt Ammerman, both Rensselaer Polytechnic Institute grads who logged time working for the State University of New York before beginning development (along with VP of engineering Abraham Sultan) of the Apprenda SaaS Application Server.
On its website, Apprenda says that what it provides customers isn't a "standard PaaS" because it's not offered as a service. Instead, Apprenda says it offers a PaaS software stack that can be deployed "in traditional datacenters, on top of virtualization, and in the cloud." Essentially, its software provides licensees with their own private PaaS, according to Apprenda. The company claims more than 2,000 installations of its platform. Customers include Honeywell, Market6 and AppointIt.
IDC predicted in June that the cloud services market would hit $73 billion by 2015, with the growth primarily fueled by SaaS.
Forrester, meanwhile, recently forecast the PaaS market will grow to $11.9 billion in 2020 from $2.1 billion in 2012 and that PaaS will host 15% of enterprise application development by decade's end.
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