Mashery Secures New Venture Capital Funding

Mashery, a leading provider of solutions to help companies build, promote, support and manage access to web services and data via an Application Programming Interface (API), recently announced new funding as it continues to add customers to its roster. The company, launched in 2006, secured funding from Formative Ventures and The Accelerator Group, as well as additional funding from First Round Capital. Mashery will use the capital to increase sales and marketing support, as well as continue product and technology development to meet growing customer demand. In addition to the funding, the company announced significant new customer wins with a total of 16 customers are now deployed on Masherys on-demand, fully hosted API Management solution.

Mashery has seen impressive market adoption since its launch last year, as companies clearly see the benefit of utilizing their fully-managed API program to get up and running in days as opposed to months, said Josh Kopelman, Mashery Chairman and Managing Partner of First Round Capital. As more and more companies begin to contemplate an API strategy, we wanted to be in a good position to manage the customer demand, which is why we welcome the support from Formative Ventures and The Accelerator Group.

The funding round was led by Clint Chao, co-founder and general partner at Menlo Park-based Formative Ventures, an early stage technology venture fund. Additional funding came from The Accelerator Group, led by Founding Partner Saul Klein, who has many successful investments under his belt including Dopplr and Pleasurecards. Previous investors First Round Capital and several of the companys angel investors also participated in the round.

Mashery has established themselves as a thought leader in this burgeoning industry because their platform helps customers establish a completely new channel to drive traffic and business to their web properties via their API, said Chao, who joins the companys Board of Directors. While most of their customers are consumer web services today, we believe that all enterprises will eventually develop an API strategy to manage their web growth, which puts Mashery in a great position.

Masherys API Management Platform provides all of the components required for companies to define and publish an API to scale with growing traffic, while also maintaining their own companys look and feel, in a fraction of the time it would take to build in-house. The platform provides usage/access management, tracking, metrics, commerce, performance optimization and developer/community tools in a pre-packaged, hosted solution, so that companies can dedicate their own engineering resources and capital to building their core software, products and services.

We created Mashery with the vision of helping companies develop and maintain their APIs, and the response weve received from the market has been very gratifying, said Oren Michels, CEO and co-founder of Mashery. Were meeting our clients needs by helping their businesses grow, and they can dedicate their valuable engineering resources and developer time to other important internal projects.

For more information, please visit www.mashery.com