By Allan Maurer
RALEIGH, N.C. and BALTIMORE – Baltimore-based AVIcode Inc., a provider of .NET application monitoring solutions, has raised an undisclosed amount of B round funding from Raleigh-based Southern Capitol Ventures.
The company previously raised a small amount from angel investors, says Southern Capitol Ventures Partner David Jones.
The proceeds will be used to accelerate the company’s growth.
AVIcode Inc. sells application monitoring solutions for the Microsoft .NET framework and says it will use the new funding to expand its sales and marketing activities for its core products.
Those include AVIcode Intercept Studio, AVIcode Intercept uX, The AVIcode .NET Management Pack and AVIcode Advisor.
The company, which has more than 25 employees, says it will use the money to accelerate its development of new products as well.
AVIcode’s Intercept Studio, the company’s flagship product, detects crashes, critical exceptions and performance degradations of production applications.
Jones tells TechJournal South, “They are the leader in .NET application monitoring with 250 customers and growing fast. We got to know them over two years and watched their business grow. When the opportunity was right, we matched up.”
Jones adds, “They have a team that’s been successful before in making money for investors.”
The company’s software helps firms with huge numbers of transactions daily monitor their applications so that if anything goes wrong they know it in real time, says Jones.
The firm’s clients include ESPN, Burger King, Citigroup, Vodaphone, Microsoft and Verizon Wireless, AVIcode delivers the industry’s most complete suite of application monitoring solutions used throughout the full application lifecycle.
“Because of market adoption of our core products, AVIcode has experienced tremendous growth over the last two years,” said Mike Curreri, CEO of AVIcode.
Current added, “The new round of funding will help us further grow our sales and marketing team while continuing to expand our product scope and depth.”
For the second year in a row, AVIcode’s Intercept Studio was named “Best of TechEd Awards Winner” by Windows IT Pro and SQL Server Magazines.
As part of its global growth strategy, the company opened a UK office in February and through a strategic partnership is now offering its products in Mexico, Central America and the Caribbean.
“AVIcode represented a tremendous opportunity for SCV to invest in a proven market leader,” said David Jones, Partner at Southern Capitol Ventures.
“AVIcode’s combination of technology innovation, leadership, and customer acceptance make it a very attractive addition to our portfolio.”
Online: wwww.avicode.com; www.southerncapitolventures.com
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