Data Startup MuleSoft Raises Funding at $1.5 Billion Valuation

The startup MuleSoft Inc. said it raised $128 million at a valuation of more than $1.5 billion to help companies better organize their data and adopt programming tools to make it easier for partners to access information.

The round of funding for the San Francisco-based startup was led by Salesforce Ventures. Also participating were ServiceNow and existing investors including Cisco Investments, Lightspeed Venture Partners and Meritech Capital Partners, MuleSoft said Tuesday in a statement.

MuleSoft makes it easier for companies to build the tools, known as application program interfaces, or APIs, using drag-and-drop tools to analyze their data and to make connections across data sets. For example, the health-care company Sutter Health used MuleSoft to create APIs for its electronic medical records.

The company, founded in 2006, has raised a total of $259 million and has 500 employees in 10 offices worldwide.

In the first three months of 2015, MuleSoft’s subscriptions more than doubled over the same period in 2014, the company said in the statement. The startup has more than 700 enterprise customers, including two of the top five global retailers and three of the top seven global banks, MuleSoft said.

MuleSoft’s Chief Executive Officer Greg Schott declined to say how much the company charges, citing the complexity of the pricing model.

The company didn’t disclose its revenues, saying only that its annual run rate of total bookings was more than $100 million.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE