Storage resource management startup AppIQ Corp. has pulled down a $12 million Series B round from its original investors, Matrix Partners and North Bridge Venture Partners, bringing its total funding to $20 million to date (see AppIQ Snaps Up $12M Series B).
The funding is a solid affirmation by its VCs of AppIQ's efforts to date. And this outfit is practically bursting at the seams waiting to tell us even more good news -- including, say AppIQ execs, a positively huge OEM deal in the pipeline, several customer wins, and partnerships with four storage-oriented systems integrators.
"We've got customers, we've got partners," says Alex Neihaus, AppIQ's VP of marketing. "We're getting lots of traction." OK. But for now, we'll basically have to take his word for it, since AppIQ isn't prepared to lift the lid on what they have cooking. Patience, young Jedi.
Sticking to the basics, David Lemont, who recently joined AppIQ as president and CEO, says the latest funding was an "up round," which means the total valuation of the startup is higher than it was in the previous round. "The exciting thing is the initial investors showed amazing confidence in us," he says. "They took the whole round. We had offers from other VCs that we had to turn down."
So what's AppIQ's current valuation? No comment. "It's kind of gauche to talk about valuation," says Lemont. Color us crass arrivistes, then.
To realize the benefits of cloud-native software, an application must actually be cloud-native—designed to run in the cloud, interacting with disaggregated cloud services, fully manageable as code—to deliver the expected benefits.
By combining resources and expertise, the AI-Enabled ICT Workforce Consortium will offer a blueprint for how industries can adapt to an AI-dominated future.
IT leaders should heed the guidance of cybersecurity insurance providers who think businesses should prioritize security education, incident preparedness, regular internal audits, and ongoing vulnerability scanning and patching.
