Mills & Reeve advises Gravitee.io on $30 million fundraise

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Mills & Reeve has advised Gravitee.io on a $30 million Series B fundraising in a move to fuel growth of its API Management and security platform.

The fundraise was led by Riverside Acceleration Capital (RAC), with support from Kreos Capital, and Series A investors Albion VC and Oxx. Gravitee.io is an open source API Management platform that provides comprehensive tools to manage both legacy and newer streaming protocols, along with API security, in a single easy-to-use platform. The fundraise is designed to accelerate product development and go-to-market of its API Management and security platform.

Rory Blundell, CEO of Gravitee.io said: “Enterprises are dealing with an increasingly demanding base of API users who want to consume APIs their way, while at the same time seeing an explosion of protocols and associated complexity.

“Along with increased protocol complexity comes an increase in API security risks. Gravitee.io is uniquely positioned in the market to address this intersection of protocol complexity and security.”

UK-based Gravitee.io is one of the fastest growing API and open source platforms. The latest fundraise comes a year since it secured £8 million in a Series A round as Gravitee.io moves to transform the management of APIs.

Zickie Lim, partner and head of Mills & Reeve’s Funds, Venture Capital and Investments team, said: “Gravitee.io is a long-standing client and it has been a privilege to work alongside Rory and the team throughout its exceptional growth journey. It has been a little over 12 months since we advised Gravitee on the Series A round and we are thrilled to act on the latest fundraise which is testament to its market leading API Management platform and visionary management team.”

The Mills & Reeve team included Christina O’Brien, Will Roles, Dominic Tyler and Victoria Watts.

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