The Series B brings Tyk Technologies' total funding to $40M. Here are the top-line bullets you need to know.
Tyk Technologies, an API management platform provider, has raised $35M in a Series B. The round drew participation from MMC Ventures and Scottish Equity Partners.
HOW’S THE COMPANY PERFORMING?
- London-based Tyk Technologies provides users with tools to manage several enterprise-specific APIs simultaneously, through a single interface, GraphQL.
- The company’s offerings include API lifecycle management, analytics, an open-source gateway, and governance and auditing, among others.
- The company currently has operational hubs in London, Atlanta, and Singapore, and it caters to about 10,000 clients globally, including Societe Generale, Starbucks, and Domino’s.
- Tyk Technologies is supported by a team of over 100 employees.
Source: Tyk Technologies
WHY DOES THE MARKET MATTER?
- The API management market is projected to grow at a CAGR of 28.8% to reach a value of $13.56B by 2028, according to Verified Market Research.
- This growth is being fueled by the increasing popularity of IoT and big data as well as the rise in demand for more features at lower costs.
- Amid the Covid-19 pandemic, enterprise clients have found new ways to digitally interact with enterprises. This has forced enterprises to find ways to manage the proliferation of digital touchpoints, which has contributed to market growth.
Want to see more research? Join a demo of the CB Insights platform.
If you’re already a customer, log in here.
