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JMI Funds Apparent Networks

San Diego-based JMI Equity, along with Bain Capital Ventures, has helped Apparent Networks Inc., a software company based in Vancouver, British Columbia, Canada, raise $13.6 million in Series B financing.

The Business Development Bank of Canada and Aden Investments also contributed to Apparent’s latest round of financing, announced July 16.

Funds will aid Apparent Networks in expanding the company’s sales and marketing, business development and research and development initiatives. Apparent Networks develops software that helps organizations improve the performance of existing applications.

Bradford Woloson, general partner at JMI Equity, along with Ben Nye, managing director at Bain Capital Ventures, joined the existing board of directors, which includes Andrew Lugsdin, director at Business Development Bank of Canada, and Irfhan Rajani, founder, president and chief executive officer of Apparent Networks.

JMI Equity, founded in 1992, is a private equity firm based in San Diego and Baltimore that provides growth capital to software and services companies.

, Sam Blanchard

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