Platform-as-a-Service Specialist Apprenda Raises $24 Million

Platform-as-a-Service Specialist Apprenda Raises $24 Million


In a round led by Safeguard Scientifics, enterprise PaaS provider Apprenda raised $24 million. The Series D takes the company’s total funding to $56 million. Also participating in the round were New Enterprise Associates and Ignition Partners.

Apprenda plans to put the new capital to work adding staff to its engineering, product, client services, and sales teams. Up to half of the 50 new employees are expected to be developers. Apprenda currently employs 90 workers in its offices in Troy, New York, and Manhattan.

The company will also use the new resources to “deepen support for WebSphere and other IBM technologies” as well as focus on security-related integrations, in its goal to be the “world’s most compatible PaaS system.”

“We care about not only the net new application(s) that developers are building today,” Apprenda CEO Sinclair Schuller said, “but also the thousands of apps in these companies that are already there. We want to take all existing IP you have and help you run in a cloud-like way.”


Apprenda CEO and co-founder Sinclair Schuller presented his PaaS platform at FinovateFall 2013 in New York.

Apprenda is a development platform that enables building .NET and Java applications inside financial services and banking. As explained by Schuller during his FinovateFall appearance, the technology “stitches together the servers inside a data center into one unified cloud that banks and financial services can use in the context of their own private cloud solutions.” The platform provides a foundational software layer and application run-time environment that allows developers to focus on building new innovations rather than on negotiating and solving IT issues.

Last month, Apprenda announced that it was supported by VMware vCloud Air. The company released version 6 of its platform in April, featuring support for Docker containers, IBM WebSphere Application Server, and authentication protocols.

Apprenda demonstrated its technology at FinovateFall 2013 in New York. The company was founded in June 2005 and is headquartered in Troy, New York.

Finovate Alumni News


  • “Platform-as-a-Service Specialist Apprenda Raises $24 Million”
  • “Azimo Launches New Service in 10 Countries in Africa, Asia-Pacific”

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni Raise $825 Million in 2013, Up 79%


Cheers to a new year! After ringing in 2014, we wanted take a look back at the capital raised by Finovate alumni in 2013. It was quite a year, with alums pulling in $825 million, $365 million more than in 2012 for an increase of about 80%.
2013 funding summary:
    • 62 companies raised $825 million
    • Q4 had the most capital, with a total of $294 million raised by 17 companies (more than half by Xero, which landed $150 million). 
    • October was the busiest month, with $177 million raised (mostly Xero’s $150 million)
    • May was second highest with $91 million raised by 7 companies
2012 comparison
Last year Finovate alums took in almost twice as much as 2012, when 44 Finovate alums collectively raised $460 million. The chart below shows the quarter-by-quarter comparison for both years.
Quarter 1 — blog post
More than $155 million raised by 14 companies
January — $57 million raised by 6 companies
February — $56 million raised by 5 companies

March — $42 million raised by 4 companies

Quarter 2 — blog post
More than $205 million raised by 15 companies
June — $81.7 million raised by 6 companies
May — $91.5 million raised by 7 companies
April — $32 million raised by 2 companies

Quarter 3 — blog post
More than $171 million raised by 22 companies

July — More than $63 million raised by 8 companies
August — More than $26 million raised by 6 companies
September — $82 million raised by 9 companies
Quarter 4
More than $294 million raised by 17 companies

October— $177 raised by 6 companies
November — More than $87 million raised by 7 companies
December — More than $30 million raised by 6 companies

Note: Funding that companies received before they first appeared at Finovate was not counted. Questions? Comments? Email us at or

Apprenda Raises $16 Million in Series C Funding


Enterprise Platform-as-a-Service provider, Apprenda, announced it has raised some major funding today. The New York-based company raised $16 million in a Series C round from three investors. 

Safeguard Scientifics led the round, and existing investors Ignition Partners and New Enterprise Associates also contributed.


While Apprenda’s customer list already includes 13 of the world’s top 20 banks, as well as a number of Fortune 500 companies, it plans to use the round to further increase adoption of its Platform-as-a-Service.

The new round brings Apprenda’s total funding to $32 million.

Apprenda debuted at FinovateFall 2013. Check out its demo video here.

Apprenda’s Technology Helps Financial Institutions Develop and Deploy Modern Software

This post is part of our live coverage of FinovateFall 2013.


Next up, Apprenda demoed its technology to help financial institutions develop and deploy modern software to help them better align with their IT departments:
“Apprenda is the leading Enterprise Platform as a Service (PaaS) product powering the next generation of software defined enterprises. As a foundational software layer and application run-time environment, Apprenda abstracts away the complexities of building and delivering modern software applications, enabling organization to turn their ideas into innovations faster. 
By decoupling applications from infrastructure and developers from IT, Apprenda empowers organizations to achieve significant cost savings and massive productivity improvements that result in better business/IT alignment. With Apprenda, modern software development and delivery becomes frictionless and IT delivers more value to the business by operating like a world-class service provider.” 
Product Launch: May 2013
Metrics: More than 16M raised in venture capital & more than 50 employees & growing
Product distribution strategy: Direct to Business (B2B)
HQ: Clifton Park, NY
Founded: June 2005
Twitter: @apprenda
Presenting Sinclair Schuller (CEO & Co-Founder)
The full demo video will be available at in mid-September.

FinovateFall 2013 Sneak Peek: Part 6


This is our final Sneak Peek of the companies who will debut their new technology on stage in New York on September 10 & 11 at FinovateFall.

You can learn more about our upcoming event here

In case you missed them, here are the previous posts in our Sneak Peek series:

FinovateFall 2013 Sneak Peek #1

Today we’ll introduce you to the final set of companies: ApprendaBiometric Signature ID, Innovation Agency, Lighter Capital, Mitek, Numbrs, PayWith, and Zooz.

Want to be a part of the audience? Get your tickets to FinovateFall 2013 here. They’re selling fast, so get yours before it’s too late.

ApprendaLogo.jpgApprenda is the leading Enterprise Platform as a Service (PaaS) product powering the next generation of software-defined enterprises.


    • Policy Driven Application Deployment
    • Seamless Hybrid Cloud Capabilities
    • Inheritable Cloud Application Architectures

Why it’s great: Apprenda is a software layer that enables any organization to transform their existing infrastructure into a self-service cloud application platform.


Sinclair Schuller, CEO & Co-Founder at Apprenda


Meet more of the team here.


Biometric Signature ID (BioSig-ID) is a software-only biometric that positively identifies users online: cloud-based with NO hardware required.
Using gesture biometrics, we can identify users at log in from any device and stop impostors – no hardware needed.
Why it’s great: BioSig-ID verifies the “real” user and allows secure online transactions and prevents identity fraud.
Jeff Maynard is the CEO and an expert in the field of dynamic biometrics receiving two patents for his inventions.


Innovation Agency’s Innovation Cafe is an innovation management platform that uses a social-based approach for driving collaborative and measurable innovation within the enterprise.
    • Recommendation Engine: encourages user participation
    • Real-time Social Graph: helps innovators to view their networks
    • Digital Personas
Why it’s great: Specifically designed for financial services providers, the platform uses crowdsourcing to engage innovation communities.
Jay van Zyl (PhD), Founder
Jay is an entrepreneur, innovator and educator who lives his passion for finding new ways of driving innovation & change.
InnovationAgencyFounder2.jpgRory Moore (MBA), CEO
Rory is an innovation pioneer and has successfully implemented many innovation initiatives in leading banks.


Lighter Capital provides growth capital to technology companies in a highly-automated manner: Capital-as-a-Service
    • Predict a borrower’s future performance using CRM data
    • Monitor for loan defaults using banking, accounting & CRM data
    • Lower lending costs
Why it’s great: By crunching key CRM data, lenders can improve underwriting and borrower monitoring, predicting instability before it shows up in financial statements.
BJ Lackland joined Lighter Capital as CEO in 2012. He has been a venture capitalist, the CFO of a public technology company, and a startup consultant.
Rob Belcher leads the investment and finance efforts at Lighter Capital and has 12 years experience in investment banking, VC and consulting.


Mitek, the founders of Mobile Deposit, developed a complete suite of mobile imaging solutions. This new mobile solution enhances the account opening process.
    • Engage and retain mobile first consumers 
    • Speed up account opening process here, there, almost anywhere
    • Reduce inaccurate data entry
Why it’s great: Increase acquisition rates and lifetime value of customers with this exciting new solution. See the demo at FinovateFall 2013. 

James B. DeBello, CEO & President


Numbrs is Online Banking of the Future.
    • Future Timeline
    • Transfer Money
    • Adnumbrs
Why it’s great: Numbrs empowers you to own your financial life on-the-go.
Julien Arnold, CEO
Johannes Hübner, CTO


PayWith: What is possible when you connect the scalability and security of the MasterCard Network with innovations in Mobile Payments/Loyalty/Rewards/and Virtual Currencies?
Merchants can use their existing credit card processing terminals to securely transact mobile payments and run rewards. Pay/Reward/Gift/Security
Why it’s great: Merchants can use their existing credit card processing terminal to transact completely secure mobile payments and run targeted marketing.
David Strebinger, CEO
Strebinger was previously the founder of Caring Capital and Wantsa Media. Emphasis on Payments/Mobile/Social/Monetization/Advertising.
Donald Kirkwood, COO
Kirkwood previously founded Axon in the UK. Axon grew to be the largest SAP consulting firm in the world and sold for $650M in 2008.  


Zooz is a global payment platform that enables e-commerce and m-commerce merchants to optimize their checkout across all channels.
    • Consumer-centric checkout for multiple platforms
    • Global payment solution with cross-border capabilities
    • Partnership with First Data
Why it’s great: Payments are for people; We’re here to give payments the human touch. Happy and reassured users are more likely to make it to the “Thank You” page!  
Oren Levy, CEO & Co-Founder


Ronen Morecki, CTO & Co-Founder

FinovateFall 2013 is just around the corner. If you have questions about the event, visit the information page, check out the FAQ, or email