Apigee Adds $35M for APIs

PALO ALTO, Calif. -- Apigee today announced the completion of a $35 million round of financing led by a new investment from a fund under management by a subsidiary of BlackRock, Inc (NYSE: BLK). Global consulting, technology and outsourcing company Accenture (NYSE: ACN) also participated as a new investor in this round, along with current Apigee investors Bay Partners, Focus Ventures, Norwest Venture Partners (NVP), SAP Ventures and Third Point Ventures. Apigee will use the financing to grow global sales and marketing and accelerate expansion of the Apigee platform as organizations of all sizes transform for the new mobile economy built on apps, data and APIs.

"Mobile changes everything, and every business must have a comprehensive digital strategy that includes reaching customers and expanding through mobile apps," said Chet Kapoor, Apigee CEO. "Apigee helps companies of all sizes deliver and manage the core elements of a connected mobile world: apps, data and APIs. We are in a market sweet spot, and this additional funding will help us quickly expand our product portfolio and international sales and marketing."

"Digital businesses are powered by APIs and Apigee’s platform helps companies turn their digital assets into an engine for ongoing innovation and growth," said Jin Lee, senior managing director, Accenture Mobility. "We are teaming with a market leader like Apigee because the application economy is creating unprecedented new opportunities in mobility and cloud, and our clients in every industry are aggressively deploying digital strategies to fuel their revenue growth and expand market share."

Apigee Corp.