SAN FRANCISCO – March 30, 2010 – MuleSoft, the Web Middleware Company, today announced it has closed its third round of financing with $12 million in venture capital. Led by SAP Ventures, a division of SAP AG, with Bay Partners also participating as a new investor, the funding round comes on the heels of record momentum in 2009 and will accelerate the company’s growth. Existing investors Hummer Winblad Venture Partners, Morgenthaler Ventures, and Lightspeed Venture Partners also participated.
“As enterprise applications continue to shift toward service-orientation and the cloud, there is a growing need for middleware that is designed for the web."
- Hervé Couturier, EVP Technology Group, SAP AG
“SAP and MuleSoft are perfectly positioned to capitalize on the trend of business middleware on-demand, by pioneering solutions in the realm of business network integration. With a significant number of our customers using Mule ESB alongside SAP NetWeaver® Process Integration to connect SAP® solutions with their other applications and services, we see a great opportunity for MuleSoft and SAP to work together.”
MuleSoft achieved record results in 2009, growing recurring subscription revenues 152% and nearly doubling new subscription customers. Exiting 2009, the company’s products – which include Mule ESB, Tcat Server, Mule Data Integrator and Mule MQ – have seen over 1.5 million downloads and over 2,500 production deployments by leading organizations such as Walmart.com, Nestlé, Honeywell and DHL, as well as 5 of the world’s top 10 banks.
“SAP Ventures brings significant strategic value to MuleSoft and will help us to leverage partnerships within the SAP ecosystem,” said Greg Schott, CEO of MuleSoft. “With successful open source investor Bay Partners also participating, along with our existing investors, we view this financing round as great validation of our accomplishments and market position. IT organizations are abandoning legacy Java EE stacks in favor of lighter-weight open source and cloud-based options, and MuleSoft is at the forefront of that movement.”
MuleSoft is Hiring
MuleSoft is hiring aggressively in all functions. For more information, visit http://www.mulesoft.com/careers.
MuleSoft is the Web Middleware Company, providing enterprise-class software, support and services for the world's most popular open source application infrastructure products, Mule ESB and Apache Tomcat. With Mule ESB, Tcat Server and iBeans, MuleSoft brings an ideal combination of simplicity and power to today’s web applications. Its products boast more than 1.5 million downloads and over 2,500 production deployments by leading organizations such as Walmart.com, Nestlé, Honeywell and DHL, as well as 5 of the world’s top 10 banks. MuleSoft is headquartered in San Francisco with offices worldwide.
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About Bay Partners
Bay Partners is a 34-year-old venture capital firm based in Palo Alto, CA, investing out of its eleventh fund. General Partner Salil Deshpande created the open source practice at the firm, which has resulted in open source investments such as SpringSource (acquired by VMware), G2One (Groovy and Grails), Engine Yard (Ruby and Rails), Sonatype (Maven), dynaTrace (continuous performance management), and now MuleSoft. Bay has over $1 billion under management. For more information, please visit baypartners.com.
About SAP Ventures
SAP Ventures invests in innovative and disruptive software and services companies globally. We pursue opportunities across all stages for outstanding financial return. Our goal is to bring substantial benefit to all parties by facilitating interaction between portfolio companies and SAP and its ecosystem of customers and partners. SAP Ventures has a successful track record of building industry-leading companies by partnering with outstanding entrepreneurs and top-tier venture capital firms since 1996. For more information, visit www.sapventures.com.
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