API Management Start-Up Gets Funding
The company says the API traffic it monitors and manages more than doubled in the last six months
Apr. 29, 2013 08:45 AM
There suddenly seems to be a run on API management start-ups. First Intel acquired Mashery. Then CA bought Level 7. Now six-year-old 3scale of Barcelona and San Francisco has gotten $4.2 million in funding from Javelin Venture Partners and Costanoa Venture Capital.
The round is meant to broaden the start-up's set of services and bring it to a global audience, enabling more valuable APIs and API delivery by its customers.
3scale claims 200 clients serving over 85,000 application developers including Fortune 500 companies, small businesses and tech start-ups like Skype, FlightStats, Wine.com, 1WorldSync, SITA, PagesJaunes.fr , the French Yellow Pages don't you know, FullContact and Yummly.
The company says the API traffic it monitors and manages more than doubled in the last six months.
3scale enables any company to distribute, manage and monetize its APIs via its freemium API Management offering.
It says the growth in the number of APIs is exponential and forecast to reach into the millions over the next five years. It advertises its solution as providing the infrastructure to manage the technical and business operations required to run an API program simply and at scale.
The platform is reportedly capable of serving hundreds of millions of API transactions a day.
It's called immediate, self-service and no cost to adopt for everything including enterprise-grade APIs on a single plug & play SaaS platform.