Apigee, a start-up based in San Jose, California, raised $60 million in venture financing for its API platform for enabling predictive analytics in digital interactions.
The company's Apigee Edge API platform helps enterprises to build mobile and digital initiatives using APIs, apps and data. Apigee Insights delivers big data predictive analytics. Apigee says that when used together, its APIs and predictive analytics can create an adaptive cycle of continuous improvement – and the faster an enterprise goes through this cycle, the faster it can innovate, adapt and accelerate its digital business.
Pine River Capital Management and Wellington Management Company participated as new investors in this round, along with current Apigee investors Norwest Venture Partners (NVP), Bay Partners, Third Point LLC, SAP Ventures, funds managed by BlackRock, Focus Ventures, and Accenture. With this financing, Apigee has raised $171 million to date.
Apigee will use the funds to accelerate across all areas of its business to keep up with demand for APIs and big data analytics, as enterprises increasingly embrace these technologies for digital business.