US API developer Apigee this week secured a further $60m in funding, bringing its total raised to date to $171m for big data analytics development.
Pine River Capital Management and Wellington Management Company participated as new investors in this round, along with current Apigee investors Norwest Venture Partners, Bay Partners, Third Point, SAP Ventures, and funds managed by BlackRock, Focus Ventures, and Accenture.
Earlier this month the company upgraded its big data analytics platform, claiming to enable enterprises to increase customer satisfaction and revenue by predicting and immediately adapting to the needs of individual customers at scale.
Apigee Insights lets businesses apply sophisticated predictive analytics on fine-grained data and then proactively act on those insights in real time, delivering individualised services through predictive apps.
Analyst house Ovum recently flagged the company as one to watch for organisations embarking on digital transformation initiatives. “The combination of API/application infrastructure, analytics, and strategy services offered by Apigee is well suited to enterprise API initiatives focusing on driving business growth via digital supply chains,” said Saurabh Sharma, senior analyst at Ovum. “Enterprises should look to engage with Apigee as a strategic partner for digital transformation initiatives, and not as a typical API management solution/infrastructure provider, to realize more value from their investment.”
Two weeks ago Apigee was contracted by Telecom Digital Ventures New Zealand, a division of Telecom New Zealand, to power Qrious, a big data and analytics platform designed to deliver a better way for organisations to tap into data insights and combine them with other available data in the ecosystem.
Apigee has a strong presence in telco API initiatives. In 2012 the company was tapped by Telefónica to lay the technical foundations for an API platform that allows third-party applications to hook into the Telefónica network. The two companies have worked together in the past on Telefónica’s BlueVia application development platform.