ALBANY, New York, November 9 /PRNewswire/ --

- Company's SaaSGrid Speeds On-Demand Software to Market for Customers

Apprenda, the creator of SaaSGrid, the world's first SaaS application
server, announced today that the company has closed a US$5 million investment
round led by New Enterprise Associates (NEA), a leading global venture
capital firm with a 30-year track record of successful investing in companies
including Salesforce.com, WebEx, Juniper Networks and XenSource. Existing
investor High Peaks Venture Partners also participated in the round of
funding.

With SaaSGrid, Apprenda has changed the way that software is built and
delivered, providing a solution to the architecture and management
complexities of delivering software across distributed web scale
environments. Cloud computing is driving software companies toward on-demand
delivery models and enterprises toward aggregating internal and external
compute resources into cohesive delivery networks for their internal
software. SaaSGrid, a distributed application execution layer, mitigates the
traditional burdens associated with tackling these trends. As a result, SaaS
companies and enterprises alike can dramatically reduce time to market and
service delivery costs.

"In the current economic climate, far fewer venture investments are being
made, so we view this funding as a strong vote of confidence in our product,
technology and team," said Sinclair Schuller, CEO and co-founder of Apprenda.
"Our investors recognize that SaaSGrid's technology will play a key role in
the transformation of software architecture and delivery. We're already
seeing our SaaSGrid customers achieving 30-60 percent reductions in software
development and deployment costs, and taking their on-demand solutions to
market at a much faster rate."

With this new investment, Peter Sonsini, Partner at NEA, and Tom Grossi,
Principal at NEA, will join Apprenda's board of directors. Current board
members include: Sinclair Schuller, CEO of Apprenda, Jonathan Stillman, of
High Peaks Venture Partners and Michael Seckler, co-Founder of Employease
(acquired by ADP).

"As an investor in some of the world's most successful SaaS and
infrastructure software companies, NEA has witnessed first-hand the
challenges of deploying applications at massive scale," said Tom Grossi,
Principal at NEA. "We believe SaaSGrid addresses a tremendous need in the
market, enabling the efficient deployment of SaaS offerings and private
software delivery clouds."

About Apprenda

Apprenda is the creator of SaaSGrid, a powerful SaaS Application Server
that eliminates the difficulties of building and delivering Software as a
Service. SaaSGrid greatly reduces the barrier to entry for SaaS by overcoming
significant technical hurdles like multi-tenancy and grid scalability, while
at the same time providing "out of the box" application services like
metering and monetization, billing and subscriber management, and much more.
This leaves developers with one job: to build on-demand software that meets
customers' needs without worrying about the difficulties of on-demand
software architecture.

For more information visit Apprenda's website at:
http://www.apprenda.com.

About NEA

New Enterprise Associates, Inc. (NEA) is a leading venture capital and
growth equity firm focused on helping entrepreneurs create and build major
new enterprises that use technology to improve the way we live, work and
play. Since its founding in 1978, the firm has followed the same core
principles: supporting its entrepreneurs, providing an excellent return to
its limited partners, and practicing its profession with the highest
standards and respect. Through its affiliated funds, NEA focuses on
investments at all stages of a company's development, from seed stage through
IPO. With approximately US$11 billion in committed capital, NEA's experienced
management team has invested in over 650 companies, of which more than 165
have gone public and more than 255 have been acquired.

For additional information, visit www.nea.com.