|By Maureen O'Gara||
|April 4, 2013 08:00 AM EDT||
MuleSoft and its integration platform Wednesday got a $37 million investment led by NEA, bringing the company's total financing to $81 million.
Other investors include Salesforce.com, as well as existing backers Hummer Winblad Venture Partners, Morgenthaler Ventures, Lightspeed Venture Partners, SAP Ventures and Bay Partners.
The funds are meant to pay for MuleSoft's aggressive growth plans across its SaaS and enterprise customer segments, further global expansion, and "category-defining" technology innovations for connecting what it calls the "New Enterprise."
Together with announcing the funding the company launched its Anypoint Platform, described as the first and only complete integration platform to enable connectivity to any application, data service or API across the entire cloud and on-premise continuum.
It says the "mega-trends of SaaS, mobile and Big Data are converging, generating a new wave of business opportunity for enterprises. Underpinning this movement is the rise of APIs, which leverage web standards to create a common language for the New Enterprise. This convergence demands a new kind of platform - one that connects the explosion of endpoints and data generated by organizations each choosing a diverse set of best-of-breed applications to power their business. Companies that win by connecting their applications, data and APIs define the New Enterprise."
Scott Sandell, a general partner at NEA, figures "Companies that are enabling a more seamless transition from on-premise to cloud are among the most exciting investment opportunities right now, and MuleSoft is one of the breakout leaders in this category."
Founded on the novel idea that connecting applications shouldn't be that hard, MuleSoft lets organizations harness the power of their applications through integration without needing custom point-to-point code. In the past year, MuleSoft says it's seen unprecedented customer growth worldwide and increased bookings of 171% year-over-year
It believes it's playing in a $500 billion integration market.
"Today's winning companies are reaching far beyond their four walls, into the cloud and onto mobile devices, to deliver the most connected products and most frictionless customer experience possible - we call this the New Enterprise," said MuleSoft president and CEO Greg Schott. "The New Enterprise represents a once-in-a-generation shift in the way businesses operate, and MuleSoft has created the integration platform to make this vision possible. This round of funding helps us further cement our position as the definitive leader in the market."
MuleSoft is supposed to address all of the pains around connecting the so-called New Enterprise. At the core is MuleSoft's Anypoint technology, which provides instant API connectivity to hundreds of on-premise and cloud-based applications and systems.
The start-up reckons that with the rise of cloud and mobile, enterprises face a choice: become overwhelmed by the resulting explosion of endpoints or seize the opportunity to gain competitive advantage.
Its widgetry, built on proven open source technology, is said to eliminate costly, time-intensive point-to-point integration and create business agility.
Already supporting billions of transactions a day, MuleSoft says it's used in production by thousands of enterprises including Wal-Mart, MasterCard, Nokia, Nestlé and Honeywell, and powers integrations with leading SaaS vendors such as Salesforce.com, NetSuite, Workday, Intuit and Box.
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