California enterprise software firm Apigee raises $60M in new funding
Enterprise software firm Apigee has closed $60 million in a new round from Pine River Capital Management, Wellington Management Co Bay Partners, SAP Ventures, Norwest Venture Partners, and Third Point LLC. Other investors in the round include funds managed by BlackRock, Focus Ventures, and Accenture, according to VentureBeat.
Apigee helps enterprise firms monitor and manage the use of application programming interfaces (APIs) to transport information between web services. Aside from that, the company also has a backend as a service (BaaS) to help them build predictive data analytics tools, the report detailed.
Over the years, Apigee has added new capabilities through its acquisitions. The addition of InsightsOne has made way for the integration of predictive analytics into its functions. A telecom-focused API service is now being planned after the firm bought the mobile carrier billing technology of Wholesale Applications Community (WAC), the report explained.
Founded in 2004, the San Jose-based company has raised a total capital of $171 million. Its most prominent clients include Burberry, Dell, Pearson, Thomson Reuters, and eBay, VentureBeat reported.