Snapt announced $3 million in series A funding.
This new investment will 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.
As Snapt continues to innovate in the ADC market, the 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.
“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 Andile Ngcaba, Chairman, Convergence Partners. “We look forward to working with them during their expansion into new markets and opportunities.”
“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 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.”