Mashery Secures New Funding From Formative Ventures and Accelerator Group to Fuel Customer Growth
API Management Platform Provider Adds Four New Customers Now Able to Create an API Distribution Channel in “Days Rather Than Months”
SAN FRANCISCO--(BUSINESS WIRE)--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), today 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 Mashery’s on-demand, fully hosted API Management solution.
“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.”
“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 company’s 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 company’s 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.”
Mashery’s 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 company’s 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 we’ve received from the market has been very gratifying,” said Oren Michels, CEO and co-founder of Mashery. “We’re 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.”
New Customers Leverage the Mashery Platform
In addition to the funding, Mashery is announcing four new customers who have already set up developer services using their API platform. They are Freewebs, ZoomInfo, JamBase and Thumbplay.
"Mashery was the clear choice for Freewebs when we launched our Remote Publishing API," said Haroon Mokhtarzada, CEO and co-founder of Freewebs. "With Mashery's On-Demand API Infrastructure, we get access control, usage tracking, documentation, and more. Mashery gives us important visibility into who is using our API and what they are doing with it."
Mashery’s newest customers include:
Freewebs offers anyone with an Internet connection and something to say to easily create and share a complete, high-quality website. With over 17 million members around the world, the company provides the Web’s most open, personal and website creation and management tool platform, ensuring that every person or business in the world can create a quality multimedia website.
ZoomInfo is a business information search engine used by sales and marketing professionals to identify business opportunities; recruiters to locate talent; and anyone conducting in-depth research about products, services and businesses. ZoomInfo currently has profiles on more than 37 million people and over 3.5 million companies, adding more than 20,000 new profiles every day.
Established in 1998, JamBase is the premiere source for live music and concert information on the web. JamBase.com contains a comprehensive tour date search engine on tens of thousands of performances by over 40,000 artists playing in over 50,000 venues around the world. Through its API, JamBase now powers concert information for partners including Microsoft, Rhapsody and iConcertCal.
Thumbplay, Inc. is the largest and fastest growing mobile entertainment content destination in the U.S. Thumbplay gives consumers access to the broadest and deepest catalog in the industry, spanning audio, video and gaming content from the leading music labels and artists, game publishers and media companies. Its innovative content delivery platform makes it easy to move online content to and from a mobile device and to share it with friends and others with similar interests.
Mashery, based in San Francisco, is the leading provider of web services and API management solutions enabling software-driven companies to unlock and accelerate their web services channel. With its on-demand, fully hosted solution, Mashery provides its customers with a robust platform to solve the cumbersome process and plumbing around publishing and maintaining an API, while helping them to increase traffic and market exposure. Mashery makes it simple to enjoy the benefits of a developer program without building one from scratch. For more information, please visit www.mashery.com.