London tech firm Tyk has closed a £25 million growth equity funding round.
The API management solution helps to build mission-critical systems in highly regulated industries such as financial services, healthcare, and government.
Software is now built across multiple clouds, locations and teams, with APIs the backbone. Tyk’s technology enables modern engineering teams to monitor, secure and manage all their organisation’s APIs in a single platform.
It is used by some of the world’s largest enterprises such as Societe Generale, Starbucks and Domino’s.
“APIs are everywhere. Ordered a pizza online? You can thank APIs for that. Just applied for a credit card? That’s APIs from start to finish,” said CEO and co-founder Martin Buhr.
“The modern enterprise is at its core an API company, and those that want to survive are expanding their API ecosystems rapidly. With that growth comes an increasing need to manage, monitor and secure that complexity.
“At Tyk, we make that easy: we’re a progressive, global, remote-first, open-source company that puts our customers at the heart of everything we do, while pushing the envelope with continued market-leading innovation.
“That makes us an ideal partner for enterprises that are transitioning into, or levelling-up their API game.”
https://businesscloud.co.uk/blog/2021/09/16/payments-tech-firm-form3-raises-116m/
Since its founding in 2014, Tyk has grown to over 100 people, with offices in London, Singapore, and Atlanta. The remote-first organisation has employees based in over 26 countries across six continents and allows staff to work from wherever they want, when they want.
The round was led by new investors Scottish Equity Partners (SEP), alongside existing investors MMC Ventures. The company aims to double headcount within the next 12 months with plans to increase its UK team and expand its presence in the US to the West Coast, and open new offices in Germany, Australia, and New Zealand.
“We received interest from a number of investors and are delighted to be partnering with SEP for the next stage of our growth,” said James Hirst, COO and co-founder of Tyk.
“The funds will be used to continue disrupting the software industry by providing innovative solutions that empower our clients’ teams and put developers firmly in the driving seat when it comes to building and managing new products and services.
“Only a small number of enterprises have started their API management journey, and we know the sector has huge potential for growth and we’re excited for what the next few years will bring.”