APImetrics Raises $500,000 From Bain Capital Ventures Seed Program
Seed Financing Will Fuel Sales Expansion of Intelligent, Analytics-Backed API Monitoring Solution
SEATTLE, WA--(Marketwired - Feb 17, 2015) - APImetrics, provider of the only intelligent analytics-driven API performance monitoring solution tailored to the enterprise, announces the closing of a $500,000 Seed round led by Bain Capital Ventures. This is the first funding issued through Bain's new seed program.
"APImetrics redefines the way that the enterprise views and values its API resources," said Salil Deshpande, managing director, Bain Capital Ventures. "And the APImetrics technology and business model offer a unique and economical way for enterprises, developers and platform vendors to ensure that critical APIs are performing as designed."
"Being the first company to be funded by Bain Capital Ventures' seed program validates our viability and market approach," said David O'Neill, CEO of APImetrics. "Today's IT managers need not just visibility into APIs across complex platforms, but the analytics that deliver actionable intelligence to back API performance. This capital will allow us to increase the speed of our development and growth in 2015."
Dependence on interconnected services built around APIs has driven explosive growth in the number of public and private APIs used today. Those APIs, however, don't always perform the way they were intended, leading to errors, unresponsive applications and customer frustration. APImetrics' dynamically scalable solution offers an intelligent cloud- or on-premise-based interface for comprehensive API monitoring, performance analysis and troubleshooting. All current and legacy API protocols are supported.
APImetrics provides multiple stakeholders -- developers, enterprises, and API providers -- with actionable insight derived from testing across different geographies and cloud services. This range of applications and cloud services includes popular hosting platforms such as Google Apps Engine, Amazon Web Services and Microsoft Azure. With APImetrics, tests run on a repeating basis even when API calls require authentication or security tokens. Predefined libraries of tests and authentication settings remove the difficulty of building and creating tests, while integrated OAuth libraries eliminate the need for manual scheduling. APImetrics is already being used by a number of API focused organizations like Microsoft, AT&T and TIBCO.
Visitors to Mobile World Congress, taking place in Barcelona, Spain March 2-5, can learn more about APImetrics and see a product demo in Hall 8.1 of the United States/Washington State Pavilion.
About Bain Capital Ventures
Bain Capital Ventures' new Palo Alto office has made more than two dozen sizable investments (not counting seeds) in less than three years. Bain Capital Ventures, with approximately $5B under management and offices in Palo Alto, Boston and New York, is the venture arm within Bain Capital, with $80B under management. Bain Capital Ventures raises a new venture fund approximately every three years and is currently investing out of stage-agnostic venture funds of $660M raised in 2012, and $935M raised in 2014 in projects ranging from $250K seeds to $50M growth-stage investments. Salil focuses on software infrastructure and led the APImetrics investment. In the last nine years he has invested $135M in 33 companies including Lending Club, Buddy Media, MuleSoft, SpringSource, Redis Labs, ZeroTurnaround, Dynatrace, Aria Systems, Hazelcast, and DataStax (the Cassandra NoSQL database), and is on the Forbes Midas List of the top 100 venture investors for 2013 and 2014.
APImetrics offers the industry's first and only intelligent, analytics-driven API performance solution built specifically for the enterprise. By interfacing with all current and legacy API protocols, APImetrics helps IT managers, developers and vendors know if their APIs are performing as designed. Monitoring is supported by analytics and fully customizable downtime alerts to help deliver the actionable intelligence needed by the enterprise to meet service level agreements and customer expectations. APImetrics is currently being used by a variety of companies, including AT&T, Microsoft, TIBCO and Radius. The company is headquartered in Seattle, WA. More information is available at www.APImetrics.io.
For additional information and updates, follow APImetrics on social media.
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"For me to invest, I not only need the technology to be disruptive but I also need to find a driven CEO who has a strong vision for the company. I'm excited about backing David O'Neill and his team."
- Marcin Kleczynski, CEO, Malwarebytes and early investor
"Upon deployment, APImetrics generates an immediate ROI as it delivers real-time information to safeguard service level agreements, superior customer service and, most importantly, user experiences."
- Bill Lehmann, associate at Bain Capital Ventures
"One-sized square pegs don't fit all holes, especially round ones. Fortunately at Bain Capital Ventures, we have the luxury of $660M raised in 2012 and $935M raised in 2014 for stage-agnostic venture funds. Domain-knowledgeable managing directors are focused on specific sectors, and we're crushing it. With our new seed program we hope to work with more great founders early like APImetrics."
- Salil Deshpande, managing director, Bain Capital Ventures