SAN FRANCISCO, Calif. – September 6, 2011 – AppDynamics, Inc., the leader in application performance management (APM) for the cloud generation, today announced that Dev Ittycheria has joined the board of directors of AppDynamics. Mr. Ittycheria has a strong track record of leading and advising early-stage software companies that far outperform their competition by leveraging their substantial technology and business model advantages with high performance distribution models.
Mr. Ittycheria was the co-founder, president & CEO of BladeLogic, and later was the president of the Enterprise Service Management (non-mainframe) business at BMC Software (Nasdaq: BMC). Today, he is a member of the board of directors of two highly successful SaaS companies – athenahealth (Nasdaq: ATHN) and Bazaarvoice. Earlier, Mr. Ittycheria was the co-founder, president & CEO of Applica, which later merged with Breakaway Solutions to become one of the first publicly traded SaaS companies.
Under Mr. Ittycheria's leadership, BladeLogic, a server automation company, was recognized as one of the fastest-growing software companies of the past decade as its compound annual growth rate over its history was close to 100%. During that time BladeLogic became the de-facto standard for server automation across nearly every vertical industry, completed a highly successful IPO in 2007, and was acquired by BMC Software in 2008 for approximately $900M, which also represented the highest multiple paid for any public technology company that year.
As the President of the ESM business at BMC Software, Mr. Ittycheria had responsibility for a $1.2B business with over 4,000 employees. During his tenure at BMC the company completely restructured its sales organization and methodology to increase sales productivity by 50%, demonstrably improved its product advantage through organic investments and multiple acquisitions, and positioned itself as the leader in systems management by outperforming all relevant competition as measured by revenue growth and stock performance.
“As someone who has had first-hand experience leading both a new breed company as well as a large incumbent in the $15B IT Operations Management market, I have come across many companies who have made bold claims about changing this industry,” said Mr. Ittycheria. “However, it is quite rare to find a company such as AppDynamics that has far superior technology than other alternatives available, a vast market poorly served by the incumbents, a visionary executive team that can execute, and a highly disruptive business powered by its freemium strategy and distribution model. I am excited to work with Jyoti as well as the AppDynamics board and management team to help the company to continue its explosive growth and become the category killer in the APM market.”
AppDynamics stands at the forefront of a generational change in how web applications are managed: modern applications are no longer monolithic in nature but are highly distributed and dynamic, fueled by architectural trends like Cloud, SOA and Agile Development. As a result, traditional application performance management solutions have become obsolete. AppDynamics is well poised to exploit this generational shift, and is already experiencing 400% bookings growth in 2011. AppDynamics has attracted over 45,000 users of AppDynamics Lite, a free download that helps IT Operations to troubleshoot application performance problems.
Historically, the IT Operations Management market has been dominated by large incumbents with highly complex products and expensive, high-touch enterprise sales models. These organizations are now being challenged by a new class of companies that offer easy-to-use technologies and disruptive, low-touch sales models that are influenced by consumer software trends like free downloads, no risk try-before-you-buy software trials, and zero consulting services.
“I’m enthusiastic about welcoming Dev to our team as we continue to exceed even our most aggressive expectations and solidify our position as the leader in the APM industry,” said Jyoti Bansal, Founder & CEO of AppDynamics. “Dev’s extraordinary success leading high-growth software companies is a tremendous asset for us, and we’re looking forward to drawing upon his strategic insight and deep management expertise at this critical point in our company’s journey.”
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