An open source application programming interface (API) management platform Gravitee recently announced that it had raised $11 million in its series A funding round. Albion VC and Oxx led the financing round.
The startup intends to use the freshly raised funds to expand into the international market and also to support its employees to scale up its marketing and research. Gravitee is a France-based tech startup that specializes in developing cost-effective API solutions to enable companies to secure, publish, and analyze their APIs.
The company was founded by Rory Blundel, who also serves as the Chief Executive Officer of Gravitee. This is the first funding the firm has received since its establishment in 2014.
Rory Blundel said, “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 open-source functionality to make that process effortless for developers and system architects.”
Software developers heavily use APIs to secure buyer’s information in various banking and e-commerce applications. Gravitee competes with many industry-leading companies like Google’s Apigee and Mulesoft.
Recently the company had also launched a new identity and access management solution to aid businesses seamlessly integrate with other service providers in order to customize the sign-in process of their applications.
Blundel said that Gravitee’s solution is the only API platform currently available in the market that has both API management and identity-access management capabilities.