MuleSoft, an integration platform for connecting SaaS and enterprise applications in the cloud and on-premise, has raised $37 million led by NEA, with Salesforce.com and returning investors Hummer Winblad Venture Partners, Morgenthaler Ventures, Lightspeed Venture Partners, SAP Ventures and Bay Partners all participating. This bring the company’s total funding to $81 million.
MuleSoft lets organizations integrate their cloud and on-premise applications. The company’s newly launched platform allows for a complete integration platform to enable connectivity to any application, data service or API, across the entire cloud and on-premise continuum.
The company also offers Tcat Server, an application server that simplifies management, application provisioning, and diagnostics tasks for Tomcat developers and administrators; Mule ESB, an open source enterprise service bus, which enables organizations to create and integrate application services; and Mule Data Integrator that simplifies data integration and transformation tasks.
“The success of companies like salesforce.com and Workday shows the profound economic advantage of the cloud-based approach, but the move to the cloud creates a new set of challenges for enterprises,” said Scott Sandell, General Partner at NEA in a release. “Companies that are enabling a more seamless transition from on-premise to cloud are among the most exciting investment opportunities right now, and MuleSoft is one of the breakout leaders in this category.”
And enterprise clients are responding. In the past year, MuleSoft increased bookings 171 percent year-over-year.
Greg Schott, president and CEO of MuleSoft, tells us that with 13,000 public APIs, enterprises can be overwhelmed with integrating all these services and make the connections between services. There is a huge opportunity, he explains, isn helping companies solve this problem.
The new funding will be used towards acquisitions and hiring engineering talent for further growth.
As for an IPO, Schott says that with the current growth trajectory of the company, MuleSoft will be lining up for an IPO, which he says is a “likely outcome”, in the next 12 to 18 months. “We want to do the same to integration market that Salesforce did for the sales software market,” he says.