Snapt, a South African startup that provides software-based load balancers and application delivery controllers (ADCs), has announced it's shutting down its platform after seeming to run out of funds.
After closing a $3 million Series A round in 2018, the startup focused on expanding its sales and marketing efforts globally and established its presence in the U.S. Since then, it hasn't raised any funding and seems to have run out of runway.
In a message to customers, it said it would be closing its doors, and offered support to help clients transition away from its services.
"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," the statement read.
What this means is that Snapt will no longer be selling its existing software licenses – Nova, NovaSense, and Aria - effective immediately.
At the end of this month, it will shut down the Nova platform, and all Nova systems will cease to operate. Support services for Aria will also be stopped.
However, Snapt said it would continue to support all its existing clients and platforms until then.