Mashery, a provider of API management platforms and strategy, has raised USD10m in funding led by OpenView Venture Partners and other existing investors including Cisco, Formative Ventures, First Round Capital and .406 Ventures.
The company will use the financing to broaden its global operations, sales and marketing force.
Mashery will also further expand its business in API strategy, platform and distribution for the rapidly increasing mainstream adoption of APIs to scale business-critical functions.
"As API management emerges as a business-critical technology, we remain committed to the Mashery team’s unique strategy of partnering with brands to help them leverage APIs for business growth," says Scott Maxwell (pictured), senior managing director, OpenView Venture Partners. "As recognition of our committed partnership to grow API Management as a business growth opportunity, OpenView has extended its investment in Mashery as the clear category leader."
Mashery’s multitenant SaaS-based API management platform has grown 272 per cent in traffic year-over-year. Mashery’s network of active developers grew more than 30 per cent in the past year, to 160,000 members. The number of live applications built on Mashery-powered APIs rose more than 75 per cent year-over-year to 50,000. This month Mashery also opened a Boston office, its fourth global location.
"The traction we are leading for the industry confirms that APIs have crossed over from a software component to a core strategy of how companies do business in the post-website era," says Oren Michels, chief executive and co-founder of Mashery. "This investment and continued partnership with OpenView and our other investors will allow us to pursue API Management as a business tool necessary for companies to scale."
