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Mendix raises $25 from Battery, Prime Ventures

23 Jan 2014

computer code softwareVenture capital firm Battery Ventures has led a $25m Series B round for an app platform company Mendix.

Existing investor Prime Ventures also participated in the round, which the company said will fuel its international expansion, product development and sales efforts.

Last year Mendix saw its revenues surge 115 per cent from the previous year, marking its fifth consecutive year of triple digit growth.

The company also launched its European headquarters in Rotterdam and a new office in the UK.

Its clients include ABN Amro, Sprint, Dun & Bradstreet, Genzyme, KPN, Liberty Mutual, LV=, Roche and TNT.

Battery Ventures general partner Michael Brown said, “It was clear from the beginning that Mendix represents an exceptional opportunity – the right team and the right product at the right time.

“We are impressed with the company’s vision and execution, strong revenue growth and phenomenal customer success rate. The aPaaS market is currently wide open, and we believe Mendix is well positioned to be the dominant player.”

Earlier this month Battery hired Adrian Cockcroft, the programmer who led Netflix’s shift to an all-cloud infrastructure, as a technology fellow.

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