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San Francisco-based integration platform MuleSoft secures $50M

March 13
12:26 PM 2014

MuleSoft, a company based in San Francisco secured $50 million for its latest funding round, a statement about the financing said.

The round for the creator of the Anypoint Platform was led by current backers NEA and Lightspeed Venture Partners and new investor Meritech Capital Partners. It was also participated in by Cisco, a new backer. SAP Ventures, salesforce.com, Hummer Winblad Venture Partners, Morgenthaler Ventures and Bay Partners-all returning backers-also supported the San Francisco-based firm, the statement said.

Proceeds from the latest round bring to $131 million the firm's fundraising total to date. The funds will be deployed for the company's plans to hasten its growth worldwide to further strengthen the lead it holds in the integration market, the statement said.

MuleSoft President and Chief Executive Officer Greg Schott said in the statement, "Companies today are flooded with new applications, data and devices and, as companies accelerate their move to the cloud, it makes connecting everything infinitely more complicated. This explosion of endpoints has created an unparalleled requirement for a new generation of integration. We are reimagining integration and transforming how our customers compete and win."

In order to join together systems and technologies, companies spend $500 billion annually. However, the process they employ is inefficient since they try to solve integration problems mainly by "writing point-to-point code." MuleSoft, however, seeks to remove this pain point through its Anypoint Platform, the next generation of integration. The platform gives companies the freedom to connect any data whenever they want through on-premises or in the cloud, the statement said.

There are now 150,000 developers in thousands of firms, from healthcare to financial services to retail to government to media, utilizing the MuleSoft Anypoint Platform. Mulesoft, which has a global workforce of 290 employees, recently posted a growth of 91% in subscription revenues year-over-year last year, the statement said.

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