Apigee, a US-based application programming interface (API) and app management platform for digital businesses and developers, announced on 31 July the completion of a $35m round of financing led by new investor BlackRock. Also participating as a new investor was consulting and outsourcing firm Accenture, along with existing investors SAP Ventures, the growth stage investment firm affiliated with Germany-based software company SAP, and venture capital firms Bay Partners, Focus Ventures, Norwest Venture Partners (NVP) and Third Point Ventures.
Apigee has now raised $100.7m since it was founded. Previously, in January 2012, Apigee secured a $7m series E financing round.
Apigee will use the financing to grow sales and marketing and accelerate expansion of the Apigee platform.
Jin Lee, senior managing director, Accenture Mobility, said: “Digital businesses are powered by APIs and Apigee’s platform helps companies turn their digital assets into an engine for ongoing innovation and growth. We are teaming with a market leader like Apigee because the application economy is creating unprecedented new opportunities in mobility and cloud, and our clients in every industry are aggressively deploying digital strategies to fuel their revenue growth and expand market share.”
Chet Kapoor, Apigee chief executive officer, said: “Mobile changes everything, and every business must have a comprehensive digital strategy that includes reaching customers and expanding through mobile apps. Apigee helps companies of all sizes deliver and manage the core elements of a connected mobile world: apps, data and APIs. We are in a market sweet spot, and this additional funding will help us quickly expand our product portfolio and international sales and marketing.”
Promod Haque, senior managing partner of NVP, said: “Apigee helps even the largest organizations evolve their businesses to act more like agile Web companies. The company has impressive momentum, and we are confident that Apigee will continue its trajectory as our world becomes increasingly driven by data-rich apps as part of the ‘Internet of things.'”