Appian, the market leader in modern business process management (BPM) software, today announced that Harry Weller, General Partner at New Enterprise Associates (NEA), has joined Appian's board of directors, in conjunction with the firm's recent minority investment. As one of the venture capital industry's top technology investors, Mr. Weller brings deep expertise and a highly successful track record in helping high-growth companies solidify and expand market leadership.With its consistent profitability and strong balance sheet, Appian is leading the emerging Work Platforms market.
"The market opportunity for custom applications for business processes is enormous—around one-third of total IT software spent—and Appian's Work Platform is really setting the pace for innovation in a sector poised for explosive growth," said Mr. Weller, who leads NEA's Software and Services practice on the East Coast and has invested in market leaders like Groupon, Cvent and Eloqua. "NEA is excited to partner with Appian as they scale the business and capture this exciting opportunity."
Appian sells the world's leading Work Platform, which allows clients to create numerous custom applications and use them in a unified environment. The Work Platform market extends traditional BPM to include data management, mobility, and collaboration. Hundreds of businesses and government organizations use Appian to accelerate business growth, provide better customer service and engagement, increase operational efficiency, and improve governance and regulatory compliance.
"I love that Harry got our vision before I even presented it. He'll be a great addition to the Appian board," said Matt Calkins, President and CEO of Appian. "NEA's interest in Appian is validation of the idea that Work Platforms will reshape the custom software industry."
NEA is the partner of choice for high-growth technology companies. With more than $13 billion in committed capital, it is one of the world's largest venture capital firms. For over 35 years, NEA has helped build great companies, and it is ranked among the top firms in portfolio IPOs every year. More than 175 NEA-backed companies have gone public and more than 300 have been successfully merged or acquired.