Cloud Elements recently announced the close of a $13 million Series B funding round, bringing the company’s total funding to $21.2 million since founding in 2012. The investment was led by Harbert Growth Partners. Since launch, Cloud Elements’ revenue has increased by almost 40 percent quarter-over-quarter, making it the fastest-growing API management vendor in the marketplace.
The new funding will enable Cloud Elements to align with its “customers first” core business strategy, which focuses on priorities for existing customers such as customer success organization, support and delivery. Cloud Elements will invest dollars in growing its Denver employee base, as well as in sales, marketing and brand reach.
Cloud Elements is a cloud API integration service that uses a “one-to-many” approach to connect applications with entire categories of services, each through a single API. They enable SaaS application developers to rapidly deliver “Cooperative Apps”; apps that connect seamlessly with other leading cloud services.
Mark Geene, the company’s co-founder and CEO speaks to the new investment: “Over the past few years, the industry has witnessed exponential growth in public and private APIs. 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. 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.”
In November, Cloud Elements introduced APIs that can be distributed to marketplaces like the Amazon Web Services (AWS) API Marketplace. Cloud Elements was also included in Gartner’s 2016 Magic Quadrant for Full Life Cycle API Management 2016.