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UK-based VCs lead £8M investment in this French open-source API management platform

In this digital era, there is a surge in the need for connected software and APIs are now ubiquitous. Eventually, this is an increased reliance on APIs as these bring endless possibilities and it requires these to run perfectly every time. For businesses, keeping track of the complex web of APIs being developed and used while managing security integrations is a tedious task.

The French startup Gravitee.io makes the task effortless for thousands of projects. In a recent development, the company raised $11 million (nearly £8 million) in a Series A funding round co-led by UK-based VCs AlbionVC and Oxx to power its expansion in the burgeoning API management market, which is estimated to be worth $22 million (nearly £16 million).

Growth plans

The investment round will enable Gravitee.io to continue growing its team across development, sales, and marketing, to enhance support for its community of development teams, accelerate delivery of the Gravitee.io team’s expanded vision for API control and expand further into international markets.

Rory Blundell, CEO of Gravitee.io: “Businesses that can make full use of their data are more successful. So effective API management is becoming a core competence. The challenge for IT teams is to connect the existing data silos, plus emerging streamed data sources, and enable these to be shared in a consistent way, secured in line with best practices and easily governed. Gravitee.io offers the richest open source functionality to make that process effortless for developers and system architects. In AlbionVC and Oxx we have found partners who recognise the value that effortless API control brings to digital enterprises. With their backing, we can accelerate our mission to bring open source control of API ecosystems to the global developer community.”

Paul Lehair, Investor at AlbionVC said: “We have been hugely impressed by what the Gravitee.io team has achieved to date. Having been bootstrapped until now, they managed to build the richest open source API management platform, attract clients across sectors and geographies, and constantly win against competitors thanks to their highly flexible platform. We are excited to support Gravitee.io during their next stage of growth as they continue building a category-leading business in this massive space.”

Mikael Johnsson, General Partner of Oxx said: “API management is becoming globally mainstream, as businesses worldwide become increasingly reliant on their API infrastructure. Gravitee.io is on a mission to solve a complex business problem with one easy-to-use platform that delivers unprecedented commercial flexibility and superior ROI. With a holistic approach to API management, Gravitee.io offers the ability to quickly and intuitively build, manage and monitor APIs, and seamlessly integrates Identity and Access Management (IAM). Gravitee.io’s impressive growth is testament to the backing of the developer community. We share the Gravitee.io team’s vision for building a category-leading company, and are thrilled to partner with Rory and the team as they accelerate to service global demand.”

Guy Duncan, CTO at Tide said: “We were looking for a solution to take our APIs to the next level. We found that by using Gravitee.io, we were able to achieve our goals of having a robust, highly automated, scalable, secure and full API Management System. The Open Source nature of Gravitee.io is essential for us at Tide, Gravitee.io’s continual innovation is driven by being open source, and we plan on contributing to ensure that Gravitee.io grows as the Tide business grows. Full support of Open Banking is a perfect fit for Tide’s platform.”

Open-source API platform

Founded in 2015, Gravitee.io is an easy-to-use, feature-rich and cost-effective Open Source API platform. The platform provides API Management, Identity & Access Management, Alerting, and multi-tenant dashboard to enable effortless control, security and governance of API ecosystems.

The open-source platform equips organisations to control the full lifecycle of their entire API ecosystem in hours, not months. Developers can rapidly gain control and structured visibility over their entire network. This ranges from developing APIs to securing them with integrated IAM (Identity & Access Management), publishing them, monitoring performance and alerting to issues.

The post UK-based VCs lead £8M investment in this French open-source API management platform appeared first on UKTN (UK Tech News).

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