Apica, a Stockholm, Sweden-based software company providing products to test and monitor the performance of software applications, raised USD $12m in funding.
The round was led by Oxx, a growth capital investment firm focused on B2B software companies, with participation from existing investors Industrifonden, SEB Venture Capital and Swedish early-stage investor KTH Chalmers Capital.
The company intends to use the funds to expand its market presence in the U.S. and Europe outside of the Nordics.
Founded in 2005 and led by Carmen Carey, CEO, Apica provides enterprises with a suite to test and monitor their mission critical business systems, APIs, web and mobile applications. The solution enables businesses to get detailed real-time performance, uptime and capacity insights, ensuring improved end user experience and optimized IT operations. Apica’s suite – available as SaaS, on-premise and hybrid solutions – is used by 400+ brands globally. Customers include Scholastic, Klarna, Q2ebanking, Etihad and Sweden’s TV4,
The company has offices in Stockholm, New York, London and Santa Monica.