WSO2 draws US$ 10 m in new funding

Wednesday, 13 February 2013 00:01 -     - {{hitsCtrl.values.hits}}

Growth-stage funding from Toba Capital, Cisco, and Intel Capital will fuel expansion of WSO2 support, sales and delivery of solutions that help enterprises fast-track their innovation.

Company marks 220% YoY Growth in new customer adoption of WSO2’s cloud and enterprise middleware.

WSO2, the lean enterprise middleware company, has announced that it has closed a US$ 10 million funding round led by Toba Capital, and joined by Cisco and Intel Capital.

The investment comes in the wake of a 220% Year over Year (YoY) increase in new customer bookings in 2012, as enterprises worldwide adopt WSO2’s award-winning cloud and enterprise middleware to achieve greater agility and fast-track their innovation.

“We recognised early on that the rapidly evolving opportunities and challenges facing today’s enterprises would be best supported by redefining middleware as a modular platform that could be implemented, expanded and modified just as quickly.

“The strong revenues, customer adoption, and scale of deployments worldwide are powerful validation of our vision,” WSO2 founder and CEO Dr. Sanjiva Weerawarana said.

“With the investment by Toba Capital, Cisco and Intel Capital leaders in cultivating technology innovators, we can now strategically accelerate our ability to deliver on this vision.”

WSO2 will use the growth financing to expand its global operations and grow its marketing, sales and support teams in the US and Europe. The company also is advancing the delivery of next-generation middleware solutions that address the new business and IT models fuelled by mobile computing and the cloud.

To help spearhead this effort, WSO2 also announced today that TIBCO Co-founder John Mathon, has joined as WSO2 Vice President of product marketing.

With the investment, CEO of Codenvy and representing Toba Capital Tyler Jewell, has joined the WSO2 board as an observer.

Toba Capital Managing director Vincent C. Smith notes, “WSO2 has an exciting team of proven entrepreneurs, who are delivering real value to large brands that demand an agile solution for their mission-critical applications.

“We are excited to invest in WSO2, and with a doubling of new customers year to year, we believe the company has tremendous potential for growth.”

Intel Capital Software and Service Group Vice President and managing director Lisa Lambert says, “WSO2 has tapped into a fundamental need for today’s enterprises to move seamlessly throughout the organisation and across the cloud by re-imagining its platforms as interlocking pieces that form a bridge across these environments.

“With the latest funding round, WSO2 is set to expand its services and support for the rapidly growing base of customers worldwide that are building their next-generation solutions around these platforms.”