Posted on July 12, 2019 by staff

API management platform Tyk secures £4m funding


API management platform Tyk Technologies has secured £4m in funding, to accelerate its business into the US.

The funding, led by MMC Ventures, will be used to accelerate Tyk’s presence, specifically the US, where the company has established itself as a challenger brand in the API space against competitors like Google’s Apigee, CA Technologies, and IBM.

The firm’s clients include Starbucks, Domino’s and the UK Ministry of Justice.

Tyk will be opening an office in Atlanta this summer to add to the Singapore office opened in 2017.

“The market for API management is going through a significant shift,” says Dan Bailey, who led the investment for MMC Ventures.

“The number of connected services are exploding thanks to increasing demand for interoperability of products and the growth of API driven business models. The rise of DevOps in the Enterprise and shift to microservice architectures are driving the need for new, nimble products and a shift away from legacy API platforms.”

“The team at Tyk have consistently impressed us with their dedication and vision to shaping a better set of products and practices for the industry – engineers love the product, as well as the flexibility and extensibility of the platform.”

Martin Buhr, Co-Founder and CEO at Tyk, added: “We want to help engineers build great products that open up data and connect systems, with APIs at their core.

“Because we genuinely care about our community, there’s a huge desire to do things differently, whether it’s our practices to support work-life balance or our Enterprise-grade level open source API gateway. For us it’s all about working to create the best quality API Management tools that we can.”