Bain leads $16M investment in Boston's AppNeta

AppNeta, a Boston-based company that provides cloud-delivered services for IT performance management, said today it has raised $16 million.

The company's third round of funding was led by Bain Capital Ventures, Egan-Managed Capital, JMI Equity and Business Development Bank of Canada.

"We have seen remarkable growth across our business during the past two years demonstrating a growing demand for SaaS-delivered performance management solutions," said AppNeta CEO Jim Melvin. "Our customers know they can't tolerate poor performing applications. They need complete, end-to-end visibility to assure optimal performance and end-user experience of all applications across all locations."

In June, the company acquired another Boston company, Tracelytics, which was founded in 2010 by four Brown University graduate students.

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