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API-management startup Mashery announced $10 million in new funding today to expand its part in what it calls the “post-website era.” The firm’s API Management platform is now used by Fortune 100 companies such as ABC News, ESPN, and Cisco.
API management is now a “business-critical technology,” argues Scott Maxwell, senior managing director for OpenView Venture Partners, which led the funding. Others taking part include existing Mashery investors Cisco, Formative Ventures, First Round Capital, and .406 Ventures.
The growth of APIs as a ‘glue’ to hold together everything from operating systems to iPad apps has given rise to companies such as Mashery which offer enterprises management tools. These API managers control access to individual software, make it easier to bundle APIs with apps and streamline development. The sector’s popularity is evident in Mashery’s latest numbers. It’s API Management platform saw a 272 percent increase in traffic, compared to the previous year. The company’s network of API developers expanded by 30 percent to 160,000 members in the past year. Applications built with Mashery-powered APIs increased by more than 75 percent to 50,000.
This “confirms that APIs have crossed over from a software component to a core strategy of how companies do business in the post-website era,” Mashery chief executive and co-founder Oren Michels said.
Mashery is based in San Francisco and was founded in 2006. The company has raised $34.8 million overall.