apigee-api-funding

API management startup Apigee has raised $20 million in its fifth round of funding to help it expand into new markets, the company announced today.

More than 100 billion API calls per month run through Apigee’s platform. Notable Apigee clients include Walgreens, Netflix, eBay, Pearson, Gilt Groupe, Bechtel, and Getty Images. Just a week ago, the company acquired assets from Wholesale Applications Community (WAC) to help it expand its tech further.

“There will soon be a trillion mobile devices connected to the Internet, and consumers are spending more time on mobile apps than on the Web,” Apigee CEO Chet Kapoor said in a statement. “Every business — from technology startups to brick-and-mortar giants — needs an API to compete in a digital economy that is increasingly dominated by apps as the primary vehicle for communicating, connecting, and e-commerce.”

The new round of funding was led by Focus Ventures, with participation by prior investors Bay Partners, Norwest Venture Partners, SAP Ventures, and Third Point Ventures.

Palo Alto-based Apigee was founded in 2004 and has raised about $72 million total to date.

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