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Mashery Raises $5.5 Million to Meet Growing Demand in API Market
SAN FRANCISCO, CA - Mashery, the leading provider of API (Application Programming Interface) enablement and management services, announced today that it has raised $5.5 million in series C funding led by Cisco. Existing investors Formative Ventures, First Round Capital and 406 Ventures also participated in the round. The company will use the financing to expand its product offering, sales, and marketing operations to meet the growing demand for APIs in key vertical markets and increase its leadership position in this space.
"Cisco is a long-standing leader in Internet networking and will clearly play an integral role in future innovation to enable new video, mobile and cloud services," said Oren Michels, CEO and Founder of Mashery. "To have Cisco as an investor is not only exciting but also validates the critical role that APIs play in transforming the way business is conducted online as companies move beyond the Web site."
Mashery provides on-demand API infrastructure enablement and management that helps organizations leverage their information assets to create new partnerships, extend their brand and tap into wider distribution networks. Mashery has more than 40,000 developers in its network. Mashery's experience and comprehensive on-demand solution allows organizations to get web services initiatives up and running quickly and provides developer, community and management tools to ensure successful performance.
"APIs have the potential to transform the way organizations do business online in much the same way Web sites once transformed how people receive, consume and interact with information. Mashery is at the center of this rapidly evolving market, driving phenomenal momentum for the company and the broader API movement," said Josh Kopelman, Chairman of the Board for Mashery and Managing Partner of First Round Capital.
APIs facilitate content and data sharing between communities and applications, enabling developers to create applications for mobile phones, social media sites, Web-enabled devices, gaming consoles or affiliate websites that can help organizations drive sales, broker partnerships and build brand. According to Gartner, by 2014, 50 percent of Global 1000 companies will offer access to portions of enterprise data and business process to customers and collaborators using a public API conforming to Web-Oriented Architecture (WOA ) principles.*