APImetrics, the company’s only smart analytics-driven API performance monitoring solution, announces the closing of a $500,000 Seed round led by Bain Capital Ventures. This is the first funding from Bain’s new seed program
‘APImetrics redefines the way the company views and values its API resources,’ said Salil Deshpande, Managing Director of Bain Capital Ventures. ‘And APImetrics technology and business model offer a unique and cost-effective way for businesses, developers and platform vendors to ensure that critical APIs perform as intended. ”
‘Being the first company to receive funding from Bain Capital Ventures’ seed program validates our viability and market approach,’ said David O’Neill, CEO of APImetrics. ‘Today’s IT managers need not just visibility across complex platforms across APIs, but analysis that delivers actionable intelligence to back up API performance. This capital will allow us to increase our pace of development and growth in 2015. ”
Dependence on interconnected services built around APIs has driven explosive growth in the number of public and private APIs currently in use. These APIs, however, do not always perform as intended, leading to errors, unanswered applications and customer frustration. APImetrics’ dynamically scalable solution offers an intelligent cloud-based or on-site interface for comprehensive API monitoring, performance analysis and troubleshooting. Support for all current and legacy API protocols
APImetrics provides a number of stakeholders—developers, businesses, and API providers—with actionable insights derived from testing across different geographies and cloud services. This range of applications and cloud services includes popular hosting platforms like Google Apps Engine, Amazon Web Services, and Microsoft Azure. With APImetrics, tests run on a repeat basis even when API calls require authentication or security tokens. Predefined test libraries and authentication settings eliminate the difficulty of building and creating tests, while integrated OAuth libraries eliminate the need for manual scheduling. APImetrics is already being used by a number of API-focused organizations such as Microsoft, AT&T and TIBCO.
Visitors to the Mobile World Congress, which takes place in Barcelona, Spain on March 2-5, can learn more about APImetrics and see the Product Demo in Hall 8. 1 United States/Washington State Pavilion
About Bay Capital Ventures
Bain Capital Ventures’ new Palo Alto office has made more than two dozen sizeable investments (not including seeds) in less than three years. Bain Capital Ventures, with approximately $5B under management and offices in Palo Alto, Boston and New York, is the venture arm of Bain Capital, with $80B under management. Bain Capital Ventures is raising a new venture fund approximately every three years and is currently investing $660M of stage-agnostic venture funds raised in 2012 and $935M raised in 2014 in projects ranging from $250K seed to $50M growth-stage investment. Salil focuses on software infrastructure and has led the investment in APImetrics Over the last nine years, it has invested $135M in 33 companies, including Lending Club, Buddy Media, MuleSoft, SpringSource, Redis Labs, ZeroTurnaround, Dynatrace, Aria Systems, Hazelcast, and DataStax (Cassandra NoSQL database) and is on the Forbes Midas list of the top 100 venture investors for 2013 and 2014.
About the APImeters
APImetrics offers the industry’s first and only intelligent, analytical-driven API performance solution designed specifically for the enterprise. By interacting with all current and legacy API protocols, APImetrics helps IT managers, developers and vendors to know whether their APIs are performing as intended. Monitoring is supported by analytics and fully customizable downtime alerts to help deliver the workable intelligence needed by the company to meet service level agreements and customer expectations. APImetrics is currently being used by a number of companies, including AT&T, Microsoft, TIBCO and Radius. The company is based in Seattle, WA. More information can be found at www APImetrics: Oh, Io
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