Denver's Cloud Elements
, an API integration platform provider, raised $13 million in a Series B funding round led by Harbert Growth Partners. With the latest round, the two-year-old company has raised $21.2 million.
The company, named a "Denver Gazelle" in 2016, has enjoyed dynamic growth since launching, experiencing revenue growth of 40 percent on a quarter-over-quarter basis. The company said that makes it the fastest growing API management vendor in the industry.
"Over the past few years, the industry has witnessed exponential growth in public and private APIs," says Mark Geene, co-founder and CEO of Cloud Elements. "Businesses now rely on APIs as a critical component of daily operations, and the number of APIs needed per business will only continue to rise, leading to higher costs and delays for go-to-market strategies, customer programs and more."
Since launching in 2012, Geene's company has grown from offering a few API integration services to more than 120 pre-built API connectors to integrate multiple programs. "Our vision for the next generation of digital business is to unify the world of APIs in such a way that makes it easy for businesses to quickly and seamlessly integrate applications of any kind at a much lower cost -- something that has only been a daydream of developers until now," Geene says.
The integration platform that Cloud Elements has created allows developers to integrate cloud services, enterprise application and connected devices. "APIs are what enable businesses to really embrace digital transformation," explains Tom Roberts, a general partner at Harbert, who joined Cloud Elements' board. "Cloud Elements has been a pioneer in establishing this new space of enabling all APIs to work together, which is reinforced by their fast growth since they've launched their platform. We're excited to support their next-generation initiatives for the modern business and are to see where they lead."
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