SEB Venture leads $5m series-C for Apica

Other participants included existing investors ALMI Invest, Industrifonden and KTH Chalmers Capital, which will maintain their respective shareholdings in the company.

The investment is intended to enhance Apica's solutions and expand its business in the US market.

Previous funding
KTH Chalmers initially invested SEK 5m in Apica in May 2007. This was followed by a SEK 9m round, including ALMI Invest, in August 2010. In June 2011, KTH Chalmers and Industrifonden invested SEK 15m, supporting the company's expansion to the US.

Company
Apica, founded in 2005, provides website load testing and performance monitoring services. Its most recent product is capable of simulating one million simultaneous web users for analysing and testing website performance. The company is based in Stockholm.

People
Senior investment manager Patrick Westerberg worked on the deal for SEB Venture Capital.

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