Mashery, known for its API management platforms and strategy, has raised $10 million 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 hopes to push for an increase in mainstream adoption of APIs to scale business-critical functions.
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Mashery has already been working to fuel rapid expansion of API management by accelerating API success for media trend setters, data service powerhouses and retail industry innovators.
Last year the company launched a discovery hub to help developers connect their apps to the Web, an API monitor that tracks the health of connections and an application directory that showcases existing work.
The firm has also been making API management easier with the provision of its Distributed Commerce service, a ‘buy button’ for app makers.
Mashery’s multitenant SaaS-based API Management platform has grown 272 percent in traffic year-over-year. The company’s network of active developers grew more than 30 percent in the past year, to 160,000 members.
The number of live applications built on Mashery-powered APIs rose more than 75 percent 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,” said Oren Michels, CEO 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.”
Founded in 2006, Mashery currently works with 10 percent of the Fortune 100 and major brands including ABC News, Choice Hotels, Cisco, ESPN, Harper Collins, Intercontinental Hotels Group, USA TODAY, Expedia and Travelocity.
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