WSO2 Completes $93 Mn Series E Round To Develop Open-source Technology The company aims to democratize the development of modern applications and services with industry-leading, cloud native and open-source technologies for API management, integration and CIAM
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California-headquartered WSO2, an open-source technology provider, has completed its Series E funding round with the addition of RedStart Labs (India), a subsidiary of Info Edge Limited. The move brings the total growth capital raised to $93 million. Info Edge joins lead investor Goldman Sachs Asset Management Private Credit, which completed the first tranche of the Series E in November 2021.
"Across India, we're seeing growing demand for our uniquely integrated approach to uniting best-in-class application programming interface (API) management and integration with identity and access management as more organizations embrace digital business models. RedStart, as part of Info Edge with its deep market understanding, extensive network and success in investing in digital businesses like Zomato, will play a strategic role in helping us accelerate our growth and customer adoption in India," said Sanjiva Weerawarana, founder and CEO, WSO2.
Info Edge, through its RedStart subsidiary, will contribute strategically to WSO2's accelerated business expansion across India, said a statement.
"We believe WSO2 operates at the intersection of two powerful trends of an increasingly API-driven world coupled with a wider adoption of open-source software by large enterprises for the flexibility and adaptability to offer agile, personalized services and innovative use-cases for their customers. As digital transformation accelerates across Indian enterprises and also as open-source forms the foundation of the government's Digital India initiative, we expect India to emerge as a key market for WSO2 not only for its revenue potential but also for developer adoption," said Amit Behl, partner, Info Edge, who led the company's investment in WSO2.
Founded in 2005, WSO2 enables enterprises, large corporations, major universities and governments to drive their digital transformation journeys, claiming to have executed more than 18 trillion transactions and be managing more than 500 million identities annually. Using WSO2 for API management, integration and customer identity and access management, these organizations are harnessing the full power of their APIs to securely deliver their digital services and applications, says the statement. The company has over 900 employees worldwide with offices in Australia, Brazil, Germany, India, Sri Lanka, the UAE, the UK and the US.