South African startup Snapt has secured $3 million (R42 million) investment to be used to expand sales and marketing efforts globally, including expansion of its US presence and worldwide channel program, in addition to key research and development initiatives.
Snapt is a global provider of high-end virtualized and cloud-based load balancing, web acceleration and security software for critical services. It has been disrupting the market since its launch in 2012 and has achieved an astonishing year-on-year growth of 400% in both 2014 and 2015.
The company, which was founded in 2012 by Dave Blakey and Douglas Cherry, opened its first US offices in Atlanta in 2016.
The disruptive application delivery controller (ADC) company is working to address the changing nature of network architecture in response to growing data and security concerns while developing new protocols that define how applications are delivered.
Existing investor Convergence Partners, a prominent impact investment management firm focused on the ICT sector in Africa, has been joined by two additional investors who also see great potential in Snapt’s technology; Nedbank Ltd, through its Corporate and Investment Banking division, which focuses on disruptive innovation, and Sanari Capital, specializing in high-growth emerging market opportunities.
In 2016, Convergence Partners, which is owned by ICT industry veteran Andile Ngcaba. Convergence Partners will invest $1 million (R15 million) growth capital into Snapt
“Our continued investment in Snapt is due to our belief in their vision that there is a software revolution happening, and that their software-based ADC helps developers take advantage of this and optimize their applications and infrastructure at the root,” said Ngcaba, Chairman, Convergence Partners.
“We look forward to working with them during their expansion into new markets and opportunities.”
Today, Snapt has 10,000 customers across more than 50 countries.
“Snapt offers a new approach to the ADC market, and has made great progress building a solid product,” said Johann van Zyl, of Nedbank CIB’s Venture Capital business.
“We are impressed by their strong customer traction in enterprise, and are aligned with their vision of a software-based ADC for DevOps. We see tremendous room for innovation as organizations move to the cloud and deploy containers and other new infrastructure. We look forward to partnering with the very dedicated Snapt team during this next phase of growth.”
Snapt’s best-in-class ADC stands out in a market of legacy offerings by providing a modern, software-only load balancing, acceleration and security solution that is built for flexibility, performance and virtualization.
Currently used by companies ranging from start-ups to the Fortune 500, Snapt prides itself on being the leading solution for DevOps, which represents the future of ICT enablement for start-ups and enterprises alike.
“Snapt’s understanding of what today’s networks and engineers need has positioned them at the front of the market for DevOps, enabling modern architecture while benefiting from leading-edge ADC technology,” said Samantha Pokroy, CEO at Sanari Capital.
“The team combines its technology leadership with a strong focus on execution and scalability. We are excited to partner with Snapt in their global expansion.”
Snapt’s ADC is easy to use and deploy, and is built around modern models and use cases, with key-value offerings including flexibility of environments and user empowerment.
Snapt allows DevOps to focus on optimizing, enhancing and building on any network and environment – all while ensuring their critical infrastructure remains safe and secure.
“The ADC market is evolving quickly, and Snapt is the perfect product to meet companies’ needs for more advanced ADC solutions that are designed for DevOps, including cloud, cloud-native and virtualized deployments,” said Blakey, Snapt co-founder and CEO.
Snapt Secures $3M in Series A Funding to Accelerate Leading ADC for DevOps https://t.co/RGo8P7RFxT
— Dave Blakey (@DaveBlakeyZa) December 6, 2018
“We are very pleased to have developed a strong network of partners that can help drive our expansion and support our rapidly growing customer base as we execute the next stage of our IP strategy, ensuring that we continue to bring the most advanced ADC solutions to market.”