BANGALORE: Lured by the opportunity and growing market in India, App-Dynamics — a San-Francisco-based maker of management tools for the cloud — has set up base in the country. The company's product a gives clear picture of what's happening within bulky software systems on the cloud and helps resolve issues quickly.
BANGALORE: Lured by the opportunity and growing market in India, App-Dynamics — a San-Francisco-based maker of management tools for the cloud — has set up base in the country.
The company's product a gives clear picture of what's happening within bulky software systems on the cloud and helps resolve issues quickly.
"This year we are going to focus on Asia and Australia. We are going after companies with about $50 million (Rs 300 crore) revenue," said CEO Jyoti Bansal, a graduate of IIT Delhi.
Multinational companies, such as online retailer eBay, fitness and aviation devices maker Garmin, and Fox News, are a few of its 1,200 customers.
The Indian IT market is clearly on a rising tide. Industry lobby Nasscom said revenue from domestic market will rise 9-12% to Rs 1.28 billion crore as business models shift from traditional onsite-offshore model to cloud-based and off-premise solutions.
AppDynamics, which is likely to go for an IPO in the near future, said it will hire about 50-100 people in India.
The six year-old company has raised $136.5 million (Rs 820 crore) in funding from Lightspeed Venture Partners, Kleiner Perkins Caufield & Byers, and Greylock Partners, among others.
Bansal, 36, said big players in the United States have not kept pace with the change in technology and only have application management tools that cater to the era of client and server computing.
The Silicon Valley-based company is aiming sales of $1 billion in 2020, and expects to open a research and development arm in India in the next three months.
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