Apigee has raised $35 million for its API management platform. The funding was led by a new investment fund managed by BlackRock, Inc., and Accenture, the global consulting company. Since 2005, Apigee has raised $107 million.
The Series E round opens the opportunity for the company to do an initial public offering. That has to be an option with the total funding it has. The market is also consolidating. Earlier this year, Intel acquired Mashery and Layer 7 was bought by CA. Apigee CEO Chet Kapoor said the funding will help it to extend its mobile offerings.
Apigee has made deep investments in developing enterprise solutions for API management, so the funding from Black Rock and Accenture makes a lot of sense. Kapor said in an email that Apigee and Accenture have similar perspectives about the market. Accenture is one of the largest consulting companies in the world.
API Expert Kin Lane says that it is accurate to say that Apigee’s technology, like that from other API providers, has served enterprise customers well, but there is a shift to using public infrastructure for API management. But companies still need ways to fit APIs with existing infrastructure, opening a window for more solutions-oriented offerings.
Apigee has always been an enterprise provider with its roots in providing secure gateway technology. The company, originally called Sonoa Systems, changed its name in 2010 to Apigee, the name of its popular platform for managing APIs. Several of the API management companies come from similar technological backgrounds. Layer 7 Technologies also has a history in providing a gateway that it transformed into an API management platform.
It’s with API management that Apigee is now extending into the software defined networking market to connect data infrastructure operations. Earlier this year, the company began offering data analytics with data from APIs both internal and that from Google Analytics and other providers.
Disclosure: Apigee’s Sam Ramji is a friend of mine. Last week he bunked at our house during OSCON.