Tyk has secured a $ 35 million investment to revolutionize enterprise software distribution
London-based API management platform uses funds to enter new markets and accelerate product development
London, 17NS September 2021 – TykLondon-based global technology company today announced that it has completed a $ 35 million growth equity funding round led by new investors. Scottish Stock Partner (SEP), along with existing investor MMC Ventures.
Tyk’s innovative API management solutions help build mission-critical systems in highly regulated industries such as financial services, healthcare and government. It is used by the world’s largest companies such as Societe Generale, Starbucks and Domino.
As companies reinvent the way they work, software is now being built across multiple clouds, locations, and teams. APIs are the backbone of this, and Tyk’s technology allows modern engineering teams to monitor, protect, and manage all APIs in their organization on a single, feature-rich platform.
This investment will accelerate the development of Tyk’s leading independent open source API and service management platform. The company aims to double its workforce, increase its UK team, expand its presence in the United States to the West Coast and open new offices in Germany, Australia and New Zealand within the next 12 months.
Martin Buhr, CEO and co-founder Tyk, Said:
“APIs are everywhere. Did you order pizza online? You can thank APIs. Have you just applied for a credit card? That’s the API from start to finish. Modern businesses do that. Core API companies and those who want to survive are rapidly expanding their API ecosystem. As they grow, the need to manage, monitor, and protect their complexity increases.
“Tyk makes that easy,” Buhr continued. “We are a progressive, global, remote-first open source company that puts our customers at the center of all our activities while pushing the boundaries with continuous market-leading innovation. It will be an ideal partner for companies migrating or upgrading their API games. “
“We are pleased to attract the attention of many investors and partner with SEP for the next phase of growth,” said COO and co-founder James Hirst. Tyk.. “This money will be used to continue to disrupt the software industry by empowering our client team and providing innovative solutions that firmly lead developers in building and managing new products and services. Very few companies have embarked on an API management journey, and we know that the sector has significant growth potential and look forward to what will come in the next few years. “
Martin Brennan, director of SEP, said:
“Martin and James have built a world-class team. With this new capital addition, Tyk is accelerating the growth of its API management platform, especially with a focus on GraphQL-focused Universal Data Graph products launched earlier this year. We are pleased to be able to help the team achieve their global ambitions. ”SEP partner Keith Davidson has joined Tyk’s board of directors as a non-executive director.
Since its founding in 2014, Tyk has offices in London, Singapore and Atlanta and has grown to more than 100 people. The RemoteFirst organization has employees in more than 26 countries on six continents, and staff can work anytime, anywhere. Tyk works with the latest technologies such as Kubernetes to solve legacy system integration issues through innovative Universal Data Graph products. In 2019, the company raised a $ 5.5 million investment round led by MMC Ventures.
The investment in SEP was led by partner Keith Davidson, director Martin Brennan and principal Taylor Lampton.
Originally established in 2014, Tyk Is one of the fastest growing scale-ups in the UK. The company has been “remote by default” since its inception, with co-founders Martin Bühl and James Hurst operating in New Zealand and London, respectively. With over 10,000 companies using Tyk’s open source API gateway and management platform, its customers include well-known brands such as Societe Generale, Starbucks and Domino. This business is also one of only 30 scale-ups selected for Tech Nation’s growth program (graduates including Monzo & Bulb).
For more information about the company, please visit: tyk.io
About Scottish Equity Partners
Scottish Equity Partners (SEP) is one of Europe’s leading and most experienced technology growth equity firms, helping founders and management achieve their global ambitions. SEP provides investments with expertise and access to international networks and works closely with investee companies to maximize business growth and value. SEP is UNPRI, The world’s leading supporter of responsible investment. For more information, see. www.sep.co.uk..
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Source link Tyk Technologies Secures £ 25.3m in Series B Investment Led by Scottish Equity Partners – UK Tech Investment News