London API platform secures $35m investment to "revolutionise" software delivery
A London-based API management platform has announced it has closed a $35m growth equity funding round.
Co-founded in 2014, Tyk’s technology enables modern engineering teams to monitor, secure and manage all their organisation’s APIs in a single, functionally rich platform.
The funding round was led by new investors Scottish Equity Partners (SEP) alongside existing investors MMC Ventures.
Tyk’s innovative API management solution helps to build mission-critical systems in highly regulated industries such as financial services, healthcare, and government. It is used by some of the world’s largest enterprises such as Société Générale, Starbucks and Domino’s.
The investment will accelerate development of Tyk’s leading independent, open-source API and service management platform. The company aims to double headcount within the next 12 months with plans to increase its UK team and expand its presence in the US to the West Coast, and open new offices in Germany, Australia, and New Zealand.
Martin Buhr, CEO and co-founder of Tyk said: “APIs are everywhere. Ordered a pizza online? You can thank APIs for that. Just applied for a credit card? That’s APIs from start to finish.
“The modern enterprise is at its core an API company, and those that want to survive are expanding their API ecosystems rapidly. With that growth comes an increasing need to manage, monitor and secure that complexity.”
James Hirst, COO and co-founder of Tyk said: “We received interest from a number of investors and are delighted to be partnering with SEP for the next stage of our growth.
“The funds will be used to continue disrupting the software industry by providing innovative solutions that empower our clients’ teams and put developers firmly in the driving seat when it comes to building and managing new products and services.
“Only a small number of enterprises have started their API management journey, and we know the sector has huge potential for growth and we’re excited for what the next few years will bring.”
Martin Brennan, director at SEP commented: “Martin and James have built a world-class team and the addition of this new capital will enable Tyk to accelerate the growth of its API management platform, particularly around the GraphQL focused Universal Data Graph product that launched earlier this year.”
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