Snapt, the Johannesburg-headquartered application delivery controller (ADC), closed a successful Series A round in December. Convergence Partners, Nedbank, and Sanari Capital each contributed to the $3 million in total funding. It is Convergence’s second investment in Snapt, following a $1 million outlay in 2016. Additional details were not made available at the time of the announcement.
Snapt was launched in 2012 and has since become “the leading solution for DevOps…[allowing teams] to focus on optimizing, enhancing, and building on any network and environment,” while keeping vital infrastructure safe from harm. They have experienced substantial growth over that time, including 500 percent year-on-year growth rates in 2015 and 2016. The company offers “load balancing, web acceleration, caching, and security for critical services” on a subscription basis to over 10,000 customers in 50 countries, working with clientele including NASA, Target, MTV, and more “to ensure their websites and services are always online, fast and secure.”
Snapt CEO and co-founder Dave Blakeley expressed excitement about the next stage for the company. “We are very pleased to have developed a strong network of partners that can help drive our expansion and support our rapidly growing customer base as we execute the next stage of our IP strategy, ensuring that we continue to bring the most advanced ADC solutions to market,” said Blakeley. The capital influx will fund global expansion efforts for sales and marketing, as well as drive focused research and development.
Sanari Capital CEO Samantha Pokroy was bullish on Snapt’s growth prospects, stating she was “extremely impressed” by Snapt’s leadership team. “We’re very excited to play a role in Snapt’s globalization story,” said Pokroy. “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.”
Andile Ngcaba, chairman at Convergence Partners, explained that their second 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.” That revolution is music to the ears of technology investors in Africa – continued success means further investment opportunities are likely to follow.