Netherlands-based AppSignal, a company that provides developers with actionable insights into their applications, has closed a $22M (nearly €19.58M) Series A funding round led by Elsewhere Partners.
The funding will support the company’s global expansion and focus on application performance monitoring solutions for mid-market organisations.
Besides the funding, AppSignal also named Brandon Swalve as Chief Executive Officer and established US operations in Austin, Texas.
Rod Favaron, Operating Partner at Elsewhere, says, “The fragmented APM market is evolving quickly — enterprise observability platforms have become extremely costly and complex for midsize development teams, while lightweight tools lack comprehensive application monitoring coverage. AppSignal fills a significant gap in the midmarket, empowering developers with robust, end-to-end monitoring of their business-critical applications in one simple interface.”
“We’re excited to support AppSignal’s accelerated expansion and unlock its next chapter of growth.”
Helping developers build better applications
AppSignal is a monitoring product built for development teams that provides developers with insights into their applications. It supports programming languages such as Elixir, Java, Node.js, Python, and Ruby.
The company operates from Amsterdam and Austin, Texas, and serves mid-market organisations globally.
AppSignal supports over 2,000 organisations in more than 60 countries with application performance monitoring and logging tools that work across various environments, languages, and frameworks. Its platform helps developers manage workflows, address performance issues, and improve application operations.
The new CEO!
Brandon Swalve has joined AppSignal as Chief Executive Officer. Based in Austin, Texas, he brings two decades of experience in software, including roles at Tricentis, Linq Analytics, SolarWinds, W Energy, and McKinsey & Company.
Swalve holds an MBA from the University of Chicago Booth School of Business and a bachelor’s degree in industrial engineering from Northwestern University.
Speaking on the development, Swalve says, “I have been incredibly impressed by the product lineup, customer successes and market traction that AppSignal has been able to cultivate.”
“I am looking forward to working with the founders to build on the strong foundation they have established by expanding the AppSignal team, speeding innovation, and scaling our marketing and sales efforts to deliver our developer-centric solutions to a broader audience.”
Capital utilisation
AppSignal will use new funding to expand language support and grow its product development, customer service, and operations teams. The company plans to increase its presence in the United States and build on its position in Europe.
It will grow its team in Europe and expand executive, go-to-market, and customer support roles in North America. Founders Roy Tomeij, Thijs Cadier, and Wes Oudshoorn will continue in their roles as Chief Customer Officer, Chief Technology Officer, and Chief Product Officer.
Roy Tomeij says, “Software developers need better APM and logging solutions to manage increasingly complex environments; it was clear we needed to significantly grow our European team and expand into North America to meet the intense demand.”
“The Elsewhere team has a deep understanding of the developer ecosystem, and their support and guidance will help us continue to deliver the exceptional service and support our current customers have come to expect while we scale.”
With new growth financing, Rod Favaron of Elsewhere Partners will lead AppSignal’s Board of Directors as Executive Chair, joined by Elsewhere Partner Nick Stoffregen. AppSignal will work with Elsewhere’s network to add operational leadership and functional support needed for scaling.
Brief about Elsewhere Partners
Elsewhere Partners is a private equity firm that invests in growth-stage software companies in the lower middle market.
The firm develops tailored growth plans and provides support across go-to-market, product, talent, finance, and strategy. Based in Austin, Texas, Elsewhere has invested in 17 companies across North America, Europe, and Israel since 2016.
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