The Seattle-based automation and orchestration platform, AppViewX has made an announcement to raise $20 million in a Series B funding round. The round was backed by Brighton Park Capital.
AppViewX is planning to utilize the fresh capital funding in the following ways:
- To expand its go-to-market operations,
- To increase product development, and
- Develop overall revenue growth strategies to help Global 2,000 organizations in reducing risk by securing and orchestrating enterprise identities and applications.
The company is making the inauguration of its 100-seater global center of excellence in Bengaluru.
AppViewX is visualizing a significant shift in revenue for its SaaS offerings. Despite industry-wide challenges from the COVID-19 pandemic, the startup has nearly twice its workforce since 2019. The company is focusing on bolstering its customer success, engineering, and go-to-market teams across the globe.
EXECUTIVE OPINION:
Anand Purushothaman, Co-founder, of AppViewX, said, “Bengaluru has emerged as the largest innovation hotspot in India and home to some of the brightest tech talents 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 Bengaluru 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.”
Mike Gregoire, Partner, and Co-founder, Brighton Park, mentioned, “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.”
