Apigee raises $60m from venture capital backers


software binary code computerApplication programming interfaces (APIs) management software company Apigee has secured $60m in a funding round backed by new and existing investors.

New backers Pine River Capital Management and Wellington Management participated in the round alongside existing investors BlackRock, Focus Ventures, Accenture, Norwest Venture Partners, Bay Partners, Third Point and SAP Ventures.

The round brought the company’s fundraising total to $171m.

Third Point managing partner Robert Schwartz said, “Apigee continues to build on its API leadership to drive digital business transformation.

“Today, every enterprise is racing to leverage data to fundamentally improve the value they bring to customers. This is the sort of transformation that Third Point seeks for investment.

“Apigee has the API infrastructure to deliver digital services and the analytics to make each interaction valuable and relevant. In our view, Apigee is uniquely positioned for digital business enablement, and it has the team, timing and momentum to capture this opportunity.”

One of Apigee’s investors, Norwest, recently led a $40m Series C round for cyber security company Shape Security.

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