Application delivery controllers (ADCs) and load balancing software vendor Snapt, situated in South Africa, has shut their doors amid what appears to be a financing shortage.
In order to meet the rising demand, Snapt, which was launched in South Africa in 2012, created a separate sales and marketing division there in 2015.
The firm secured $3 million in Series A investment in December 2018 to finance important R&D projects as well as its global sales and marketing strategies, which included growing its US presence and global channel network.
The firm has now stopped seeking money, and it appears that it has run out of options. It announced its closure in a message to consumers and provided assistance to enable users to stop using its services.
“Over the past 12 months, Snapt has been in a growth phase of its business, driven by increased demand for our products at large enterprise customers,” the company said.
“Given recent unforeseen events, outside of our control, Snapt has been left with no option but to cease operations immediately, as we believe this is in the best interests of our staff and clients. We are extremely saddened by this, especially given the recent growth of the business, and grateful for all the amazing interactions we’ve had with our clients over the years.”
Snapt’s current software licenses for Nova, NovaSense, and Aria will no longer be sold as of right now. It will shut down the Nova platform at the end of this month, and all Nova systems will stop working. Also suspended will be Aria’s support services. Up until that point, Snapt stated that it will support all of its current clients and platforms.