Automated Machine I’d Management Co. AppViewX Raises $20 Mn Series B Funding Led by Brighton Capital
AppViewX raises US$20 million Series B funding led by Brighton Capital to help organizations reduce risk across growing number of machine identities
Inaugurates 100-seater global center of excellence in Bengaluru; funding to support continued global expansion and product innovation to meet significant market demand
AppViewX, the leader in automated machine identity management (MIM) and application infrastructure security, today announced that the company has raised US$20 million in Series B funding led by growth equity firm and existing investor, Brighton Park Capital (“Brighton Park”). The additional investment will help maximize AppViewX’s go-to-market operations, product development and overall revenue growth strategies on its mission to help Global 2000 organizations reduce risk by securing and orchestrating enterprise identities and applications. The company announced the inauguration of its 100-seater global center of excellence in Bengaluru. AppviewX is seeing a significant shift in revenue to its SaaS offerings and currently has a best-in-class customer retention rate. Despite industry-wide challenges from the pandemic, it has nearly doubled its workforce since 2019, bolstering its customer success, engineering and go-to-market teams across the globe.
In his comments, Anand Purushothaman, Co-founder, AppviewX, said “Bengaluru has emerged as the largest innovation hotspot in India and home to some of the brightest tech talent in the region. As we scale globally, it was important for us to have a presence here in order to tap into this talent pool. We expect the Bangalore center to scale rapidly over the next couple of years as we continue to grow our global teams to further our mission towards cementing AppViewX as a frontrunner in the Machine Identity Management space.”
“Brighton Park prides itself in investing in companies that are revolutionizing or disrupting their market,” said Mike Gregoire, Partner and Co-Founder of Brighton Park, adding,“AppViewX is doing just that, automating Machine Identity Management to help some of the world’s biggest organizations prove success on board level topics like business risk reduction and compliance. We look forward to continuing our partnership with AppViewX as the company continues to innovate and advance the Machine Identity space forward.”
AppViewX is trusted by the world’s leading global organizations to reduce risk, ensure compliance, and increase visibility through machine identity management and application infrastructure security and orchestration. With speed and agility, our Automation Platform facilitates digital transformation through streamlined workflows to prevent outages, reduce security incidents and protect both an organization’s reputation and bottom line.
Brighton Park is a Greenwich, CT-based investment firm that specializes in software, healthcare, and technology-enabled services. The firm invests in companies that provide highly innovative solutions in partnership with great management teams. Brighton Park brings purpose-built value-add capabilities that match the unique requirements of each of its companies. For more information about Brighton Park, please visit www.bpc.com
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