Exclusive: London-based Tyk Technologies, which offers a feature-rich API gateway and management platform, has secured £4 million in Series A funding in a round led by MMC Ventures.
The capital will be used to finance its expansion in the US, where it will be opening an office in Atlanta this summer to compete more efficiently with the likes of Google’s Apigee, CA Technologies, IBM and others. The startup, which was founded in 2015, also has an office in Singapore.
Tyk’s API platform serves as a management and security layer between APIs, enabling programmers and developers to securely connect systems with ease. Its technology is already being used by the likes of Starbucks, Domino’s and the UK Ministry of Justice.
Martin Buhr, co-founder and CEO at Tyk, said: “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.”
“The market for API management is going through a significant shift,” comments 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.”