Apigee Closes $35 Million in Funding to Meet Demand as Businesses Transform
for the Digital World Built on Apps, Data and APIs
Financing will be used to grow Apigee's global sales, marketing and product
PALO ALTO, Calif. -- July 31, 2013
Apigee today announced the completion of a $35 million round of financing led
by a new investment from a fund under management by a subsidiary of BlackRock,
Inc (NYSE:BLK). Global consulting, technology and outsourcing company
Accenture (NYSE: ACN) also participated as a new investor in this round, along
with current Apigee investors Bay Partners, Focus Ventures, Norwest Venture
Partners (NVP), SAP Ventures and Third Point Ventures. Apigee will use the
financing to grow global sales and marketing and accelerate expansion of the
Apigee platform as organizations of all sizes transform for the new mobile
economy built on apps, data and APIs.
"Mobile changes everything, and every business must have a comprehensive
digital strategy that includes reaching customers and expanding through mobile
apps," said Chet Kapoor, Apigee CEO. "Apigee helps companies of all sizes
deliver and manage the core elements of a connected mobile world: apps, data
and APIs. We are in a market sweet spot, and this additional funding will help
us quickly expand our product portfolio and international sales and
"Digital businesses are powered by APIs and Apigee’s platform helps companies
turn their digital assets into an engine for ongoing innovation and growth,"
said Jin Lee, senior managing director, Accenture Mobility. "We are teaming
with a market leader like Apigee because the application economy is creating
unprecedented new opportunities in mobility and cloud, and our clients in
every industry are aggressively deploying digital strategies to fuel their
revenue growth and expand market share."
Apigee's flagship offering is Apigee Enterprise, a complete platform for
creating, managing and measuring digital initiatives built on apps, data and
APIs. The company's product portfolio has expanded in the past year to address
an evolving market, where digital assets and mobile initiatives are becoming
increasingly integrated and business critical. Apigee now also offers Apigee
Insights, a powerful big data analytics platform that helps organizations gain
new business insights in the app economy; and the Apigee API Exchange, an API
interoperability platform that powers app ecosystems across any industry. With
a significant and growing presence worldwide, 20 percent of the Fortune 100
and over 10 percent of the Global 100 are now Apigee customers.
"Apigee helps even the largest organizations evolve their businesses to act
more like agile Web companies," commented Promod Haque, senior managing
partner of NVP. "The company has impressive momentum, and we are confident
that Apigee will continue its trajectory as our world becomes increasingly
driven by data-rich apps as part of the 'Internet of things.'"
Apigee enables enterprises and developers to succeed in a dynamic, connected
mobile world. The company's offerings – Apigee Enterprise, Apigee Insights and
Apigee API Exchange – help businesses quickly build high-performing,
end-to-end mobile platforms with apps, data and APIs. Apigee customers include
global enterprises such as Walgreens, eBay, Shell, Live Nation, Bechtel, Marks
& Spencer and Vodafone. The company's headquarters are in Palo Alto,
California. To learn more, go to www.apigee.com.
Apigee is a registered trademark in the U.S. Other product or company names
mentioned may be trademarks or trade names of their respective companies.
Kulesa Faul for Apigee
Kristina Lanpheir, 831-251-9120
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