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MuleSoft raises USD12m led by SAP Ventures

MuleSoft, a provider of software and support for open source application infrastructure products, has closed its third round of financing with USD12m in venture capital.

The financing was led by SAP Ventures with Bay Partners also participating as a new investor.

Existing investors Hummer Winblad Venture Partners, Morgenthaler Ventures and Lightspeed Venture Partners also participated.

"As enterprise applications continue to shift toward service-orientation and the cloud, there is a growing need for middleware that is designed for the web," says Herve Couturier (pictured), executive vice president technology group, SAP. "SAP and MuleSoft are perfectly positioned to capitalise on the trend of business middleware on-demand, by pioneering solutions in the realm of business network integration. With a significant number of our customers using Mule ESB alongside SAP NetWeaver Process Integration to connect SAP solutions with their other applications and services, we see a great opportunity for MuleSoft and SAP to work together."

MuleSoft achieved record results in 2009, growing recurring subscription revenues 152 per cent and nearly doubling new subscription customers.

Exiting 2009, the company’s products – which include Mule ESB, Tcat Server, Mule Data Integrator and Mule MQ – have seen over 1.5 million downloads and over 2,500 production deployments by organisations such as, Nestle, Honeywell and DHL.

"SAP Ventures brings significant strategic value to MuleSoft and will help us to leverage partnerships within the SAP ecosystem," says Greg Schott, chief executive of MuleSoft. "With successful open source investor Bay Partners also participating, along with our existing investors, we view this financing round as great validation of our accomplishments and market position. IT organisations are abandoning legacy Java EE stacks in favour of lighter-weight open source and cloud-based options, and MuleSoft is at the forefront of that movement."

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