MuleSoft wants to be the hub that connects your legacy on-premises applications with their mobile and web-based counterparts and now it has $37 million more in funding to achieve that mission. The Series E round, led by new investor NEA, brings total venture investment in the San Francisco company to $81 million.
MuleSoft also announced its new “Anypoint Platform” which it paints as the hub for connecting elderly on-premises applications to the shiny, newer mobile and web-based apps that companies increasingly turn to.
The company supports all the major publicly available application programming interfaces (APIs) — no mean feat since by its count there are about 13,000 of them now, up from about 100 in 2006. Back then, only new-fangled companies like Yahoo Amazon, and eBay offered APIs as a standard way to interact with their applications.
“The new enterprise feels different. You still have legacy stuff that needs to be connected to your newer SaaS and mobile platforms. Anypoint provides the blueprint to connect all that up,” said Ross Mason, MuleSoft founder and CTO said in an interview.
MuleSoft CEO Greg Schott said the business of connecting all these enterprise applications represents a $500 billion opportunity, but one for which it must compete with a bunch of legacy vendors including Tibco and IBM (with its wild world of WebSphere). In some areas it also competes with newer companies like Apigee, but mostly MuleSoft’s SaaS solution gives companies an option other than turning to third-party systems integrators or hand coding connections between applications.
Salesforce.com is also a new investor in this round joining previous funders Hummer Winblad, Morganthaler Ventures, Lightspeed Venture Partners, SAP Ventures and Bay Partners.
The latest cash infusion will help the company build up its sales and marketing presence and to keep building up its product. “We’re investing extremely heavily, this is all subscription based revenue which means this is a cash-consuming businesses,” Schott said.