Apigee, the API company, today announced the completion of a $20 million round of funding led by a new investor, Focus Ventures, with the participation of current investors, Bay Partners, Norwest Venture Partners, SAP Ventures and Third Point Ventures. The company will use the funds to rapidly expand the development, marketing and sales of its leading API platform, while also expanding into new markets.
“There will soon be a trillion mobile devices connected to the Internet, and consumers spend more time on mobile apps than on the Web. Every business—from technology start-ups to brick-and-mortar giants—needs an API to compete in a digital economy increasingly dominated by apps as the primary vehicle for communication, connectivity and e-commerce,” said Chet Kapoor, CEO of Apigee.
“As demand for APIs and apps rises, we use additional funding to accelerate our time-to-market and expand into new vertical markets with industry-specific API solutions,” Kapoor continued. “Our recent acquisition of WAC (Wholesale Applications Community) and the resulting new Apigee services for unified mobile API/app development is our first major step in this direction. “That’s right.
Apigee is experiencing strong growth as companies increasingly align their IT strategies and investments with the explosion in information consumption on mobile devices and other platforms. Today, almost 20% of the top 100 companies listed in the Fortune 500 use Apigee and more than 100 billion API calls per month run through the Apigee platform. The global companies using Apigee include Walgreens, Netflix, Bechtel and Getty Images.
Promod Haque, Managing Partner of Norwest Venture Partners (NVP), said, “Apps are becoming the foundation for mobile computing as well as enterprise IT, and Apigee enables businesses to embrace a new economy built on APIs and apps. We’re thrilled to contribute to Apigee as it quickly builds on its API leadership position, meets overwhelming customer interest, and helps drive this expanding industry. “That’s right.
The API is the control point for mobile and other Internet applications (“apps”), determining how and what data flows between the app and the services that support it. An API can define an ecosystem standard for third-party apps built around the data, services and brand of a business, helping that business reach new customers across thousands of platforms. For example, any third-party developer can easily integrate Google Maps functionality and data into websites and mobile applications via the Google Maps API.
Apigee’s flagship offering is the Apigee Enterprise API platform, a cloud-based service that helps businesses deliver, manage and measure APIs and their built-in applications. Apigee can reduce the complexity of delivering APIs and building apps, drive developer adoption, provide comprehensive analysis and control of API usage, and help businesses easily scale as channels grow.
Around Apigee
Apigee is the leading provider of API technology and services to companies and developers. Hundreds of companies, including Walgreens, Netflix, eBay, Pearson and Gilt Group, as well as tens of thousands of developers, use Apigee to simplify the delivery, management and analysis of APIs. Apigee’s global headquarters are located in Palo Alto, California, and also has offices in Bangalore, India and London, England. Find out more at The Pigee Com
