Software startup Appnomic has raised USD 22 million in funding led by Avataar Ventures.
Appnomic helps digital enterprises become self-healing. The startup has expertise on predictive anomaly detection, anomaly linked healing triggers and unified causation that navigates the linkages between digital journeys, transactions, Applications and IT Infrastructure from edge to public and private cloud.
Appnomic has a global presence across North America, Europe, and Asia.
The company has appointed Nitin Kumar as CEO. His previous stints include leadership roles in management consulting firms, including HP, Deloitte, PwC, and FTI.
The fresh capital will be used to expand its global presence and market reach, said Mohan Kumar, Managing Partner at Avataar Ventures.
“Businesses are looking for providing better customer experiences, less downtime, and cost savings. Organizations integrating self-healing systems have a competitive advantage over those that do not. Appnomic has multiple patents in the self-healing domain and continues to innovate in this arena. The new team and I have great plans to scale this business in 2020,” said Kumar.
The company has appointed Cuneyt Buyukbezci as its Chief Marketing Officer and Girish Muckai as its Chief Risk Officer.
The software solution offered by Appnomic, which has offices in California and Bengaluru, enables over 40 customers who could prevent more than 250,000 severe incidents a year. This amounts to more than 850,000 man-hour savings, and over $40,000,000 in costs, said the company.
D. Padmanabhan, the former CEO and founder, will be still active in an operating role as the Chairman, the company said.