Lille, France-based Gravitee, a cost-effective API management platform, announced on Thursday, September 8, that it has raised $30M (approximately €29.76M) in a fresh round of funding.
Prior to this round, the company had raised $11M in a Series A round of funding.
The company says the funds will help accelerate the growth of its API management and security platform.
Investors in this round
The current round was led by Riverside Acceleration Capital (RAC) with additional support from Kreos Capital, and existing investors AlbionVC and Oxx.
Jonathan Drillings, Partner at RAC, says, “APIs allow digital systems to efficiently communicate; and as the world continues to digitise, APIs usage will continue to expand. As with any other communication channel, API owners need to create, manage and secure their APIs. For a handful of organisations, APIs are the product itself. For everyone else, APIs are a route to market – a way to collect or share data, a means to deliver content, or an enabler of transactions (plus so much more) – and for this market majority, there is Gravitee. Gravitee’s focus on API management allows their customers to focus on their core business while delivering their service through the digital channels their customers demand.”
“The world’s first-ever event-native API Management platform”
Founded in 2016 by Rory Blundell, Azize Elamrani, David Brassely, Nicolas Géraud, and Titouan Compiegne, Gravitee.io is an open source API platform, enabling worldwide developers and business users to build, manage and monitor their APIs.
The company claims to provide comprehensive tools to manage both legacy and newer streaming protocols, along with API security, in a single platform. With its open-source foundation, Gravitee.io continues to invest in the open source product, while providing optional extensions for the enterprise.
Co-founder Rory Blundell says, “To deliver on our mission of allowing effortless control of an organisation’s API ecosystem, we’ve made deliberate choices. We have a relentless focus on ensuring our customer’s API strategy is future proof – embracing synchronous and asynchronous protocols, or Event-Native API management as we like to call it. We also believe that API security is fundamental to proper API governance. Finally, we also remain committed to our open-source community by continuing to extensively invest in and support our core OSS product while building a thriving community of users.”
Some of Gravitee.io’s customers include Auchan, SwissPost, Tide, PostNL, and Derivative Path.
Gravitee.io’s aim is to become the industry’s fastest-growing API and open-source platform. The raised capital will help accelerate the development and go-to-market of Gravitee.io’s API management and security platform.
Rory Blundell, co-founder and CEO, says, “Enterprises are dealing with an increasingly demanding base of API users who want to consume APIs their way, while at the same time seeing an explosion of protocols and associated complexity. Along with increased protocol complexity comes an increase in API security risks. Gravitee.io is uniquely positioned in the market to address this intersection of protocol complexity and security.”