London 'challenger' tech firm secures £4m to boost US growth
A London-based tech firm has secured £4m in a Series A funding round to accelerate its expansion in the US.
Tyk Technologies Ltd secured the investment in a round led by venture capital firm MMC Ventures.
Founded by Martin Buhr, the company aims to be a challenger to firms like Google and IBM with its self-developed API (application programming interface) gateway and management platform, including the likes of coffee chain Starbucks, fast food brand Domino’s and the UK Ministry of Justice in its client base.
Martin Buhr, co-founder and CEO at Tyk, explained: “We want to help engineers build great products that open up data and connect systems, with APIs at their core.
“Because we genuinely care about our community, there’s a huge desire to do things differently, whether it’s our practices to support work-life balance or our Enterprise-grade level open source API gateway.”
The funding will be used to grow the firm’s business internationally, primarily building on its existing foothold in the US with the launch of a new office planned.
Dan Bailey, who led the investment for MMC Ventures, commented: “The market for API management is going through a significant shift.”
“The team at Tyk have consistently impressed us with their dedication and vision to shaping a better set of products and practices for the industry – engineers love the product, as well as the flexibility and extensibility of the platform.”
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