French API management platform Gravitee.io has raised $11M (approx €9.3M) in a Series A round, co-led by AlbionVC and Oxx, to power its expansion in the API management market, which is predicted to be valued at $22B by 2028.
With the proceeds, the open-source platform plans to expand its team across development, sales and marketing, to enhance support for its community of development teams, accelerate delivery of the Gravitee.io team’s expanded vision for API control and expand further into international markets.
Gravitee.io claims to have customers in 20 countries and 35,000 global downloads per month, which is a driving factor for its 163 per cent year-on-year growth.
Rory Blundell, CEO of Gravitee.io, says, “Businesses that can make full use of their data are more successful. So effective API management is becoming a core competence. The challenge for IT teams is to connect the existing data silos, plus emerging streamed data sources, and enable these to be shared in a consistent way, secured in line with best practices and easily governed. Gravitee.io offers the richest open-source functionality to make that process effortless for developers and system architects.”
Gravitee.io is an open-source API platform that provides API Management, Identity & Access Management, Alerting, and multi-tenant dashboard to enable control, security and governance of API ecosystems. The platform further provides support, hosting, training and consultancy to businesses.
The open source platform equips organisations to control the full lifecycle of their entire API ecosystem in hours. Developers can gain control and structured visibility over their entire network, which ranges from developing APIs to securing them with integrated IAM (Identity & Access Management), publishing them, monitoring performance and alerting to issues, the company says in a statement.
Gravitee.io integrates its own IAM system and supports the latest protocols and 2FA, including biometrics. This feature saves customers weeks of security integration time and thousands in support contract costs.
According to the company, Gravitee.io was born of the frustration that a group of expert developers felt with first-generation API management tools. The company’s customers include Auchan, a leading French retailer, and UK business financial platform Tide.