Inveready part-exits 3scale to Javelin, Costanoa Venture Capital


exit 15_sqSpain’s Inveready has sold part of its stake in API management business 3scale following a Series B investment from a pair of fellow venture firms.

Javelin Venture Partners and Costanoa Venture Capital have invested $4.2m into the US and Spain-based company, which has more than doubled the amount of API traffic it monitors and manages in the last six months.

APIs are a key infrastructure component for online businesses, and are anticipated to grow to number billions in the coming years.

Inveready invested in 3Scale by leading an $800,000 Series A Round for the company in 2010 through its Inveready Seed Capital fund.

Roger Piqué, Inveready’s general partner, said, “We believed in an international team with a clear vision about the evolution of a market that in the past two years has boomed.

“Transactions such as Mashery’s acquisition by Intel, or Layer’s acquisition by Computer Associates and the new investment in 3scale that will help broaden 3scales’ set of services and bring it to a global audience, is an example of this.”

Javelin managing director Noah Doyle said, “As products and services we rely on for our daily lives – from travel info to e-commerce, thermostats to elevators – increasingly connect to internet applications through machine-to-machine interfaces, the need for robustly managed APIs becomes critical.

“We are proud to lead this new round of funding for 3scale because it will bring high performance grade solutions to a wide audience, which no provider has done before.”

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