US-based enterprise software provider WSO2 closed a $20m series D round yesterday that wwas led by internet of things technology company Pacific Controls and backed by venture capital firm Toba Capital.
Founded in 2005, WSO2 operates a platform through which businesses can create, manage and secure applications, web services and APIs (an important tool for software development). The platform can be used in the cloud, on-site, on mobile devices and across the internet of things.
The series D funding will be used to increase WSO2’s market share across the world. The company has also entered into a partnership with Pacific Controls to work on the latter’s smart city initiative.
Dilip Rahulan, executive chairman of Pacific Controls, has taken an observer seat on WSO2’s board.
WSO2 secured $10m in a 2012 series C round led by Toba that also featured networking equipment manufacturer Cisco Systems and semiconductor technology producer Intel’s corporate venturing unit, Intel Capital.
Intel Capital had already contributed to WSO2’s $4m series A round in 2006 and its $6.5m series B in 2011. The series B round was led by software company Quest Software, which was acquired by computer manufacturer Dell for $2.4bn in 2012.