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Venture Capital unit invests in leading cloud services firm

With eBay, Bonnier and SAS among its clients, Swedish technology firm Apica is ready to increase its global presence. SEB’s Venture Capital unit is joining three existing investors to provide 35 million kronor to support the expansion as well as further development of the company’s products.

Patrik Westerberg, senior investment manager at Venture Capital, says: “Apica is a well-financed company with a strong product offering and potential to continue to grow – all criteria SEB looks for in new technology investments.”

Rickard Peterson, venture analyst at Venture Capital, adds: “The competent management team of Apica has developed a strong and highly scalable business and the addressable market of cloud computing is growing at a very high pace.”

Apica’s CEO Sven Hammar says: “We are very happy that Venture Capital is a new investor. Now we have four capital strong and knowledgeable investors who can help us in our global expansion. Our cloud services are at the cutting edge internationally and we see an excellent chance to consolidate and strengthen our leading position with this capital in place.”

Founded in 2005, Apica has grown quickly to be a leading player in the Swedish market for load testing, performance analysis and monitoring of web sites, cloud services and mobile applications.

In May the firm received the EuroCloud Nordic Award 2012 for best Nordic cloud service. It also recently acquired well-known load and stress test tool called Proxy Sniffer, which it will re-brand under the Apica name.

Headquartered in Stockholm, Apica has offices in the UK and US and test centres across the world.