WSO2 Attracts $10 Million in Funding Following 220% Year Over Year Growth in New Customer Adoption of WSO2’s Cloud and Enterprise Middleware
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
PALO ALTO, Calif., February 4, 2013-- WSO2, the lean enterprise middleware company, today announced that it has closed a $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 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 recognized 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,” said Dr. Sanjiva Weerawarana, WSO2 founder and CEO. “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 United States and Europe. The company also is advancing the delivery of next-generation middleware solutions that address the new business and IT models fueled 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. For more information, see the press release dated February 4, 2013.
With the investment, Tyler Jewell, CEO of Codenvy and representing Toba Capital, has joined the WSO2 board as an observer.
Vincent C. Smith, managing director of Toba Capital 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.”
Lisa Lambert, vice president and managing director, Software and Service Group, Intel Capital says, “WSO2 has tapped into a fundamental need for today’s enterprises to move seamlessly throughout the organization and across the cloud by re-imagining its platforms as interlocking pieces that form a bridge across these environments. With the newest 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.”
About Toba Capital
Toba Capital is a venture firm focused on enterprise software and infrastructure. Toba backs entrepreneurs building transformative businesses, both as an investor and as an ongoing operational partner. The firm was founded by Vinny Smith, an early investor and former CEO of Quest Software.
About Intel Capital
Intel Capital, Intel's global investment and M&A organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, mobility, health, consumer Internet, digital media and semiconductor manufacturing. Since 1991, Intel Capital has invested more than US$10.8 billion in over 1,276 companies in 54 countries. In that timeframe, 201 portfolio companies have gone public on various exchanges around the world and 317 were acquired or participated in a merger. In 2012, Intel Capital invested US$352 million in 150 investments with approximately 57 percent of funds invested outside North America. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com or follow @Intelcapital.
WSO2 is the lean enterprise middleware company. It delivers the only complete open source enterprise SOA middleware stack purpose-built as an integrated platform to support today’s heterogeneous enterprise environments—internally and in the cloud. WSO2’s service and support team is led by technical experts who have proven success in deploying enterprise SOAs and contribute to the technology standards that enable them. For more information, visit http://wso2.com, or check out the WSO2 community on the WSO2 Blog, Twitter, LinkedIn, Facebook, and FriendFeed.
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Rebecca Hurst, 650-679-9282
Venture Capital Database