News & Views
WSO2 secures funding for growth
Digital transformation technology leader, WSO2 (www.wso2.com) secures $90 million in growth capital from Goldman Sachs Asset Management to accelerate WSO2’s global expansion and investment into its next-generation, cloud native solutions for securely delivering APIs, applications, and digital services.
The new solutions, powered by Ballerina, will offer a seamless blend of low code and pro code experience for enterprises and deliver the power of DevOps and modern SDLC practices including integrated reuse within the organization and beyond.
“With more enterprises embracing digital business models, we’re seeing growing demand for our uniquely integrated approach to coupling best-in-class API management and integration with identity and access management,” says Dr Sanjiva Weerawarana, Founder and CEO, WSO2. “To date, we’ve been financing the growth of our business with our own profits and have secured over 800 customers in over 80 countries, including several Fortune 1000 customers. Now, with the funding from Goldman Sachs, we can accelerate delivery of our next-generation Choreo integration platform as a service (iPaaS) and Asgardeo identity as a service (iDaaS) solutions, which significantly lower the skills, time and cost barriers to delivering secure new digital services, as well as further expand our partner network and scale faster globally.”
In addition to supporting the company’s commercial solutions, WSO2 will also invest in extending the capabilities and community around Ballerina, the open-source language that radically simplifies how developers build and deploy cloud-native applications. Choreo is WSO2’s first commercial solution to take advantage of Ballerina in enabling employees at various skill levels to collaborate in creating new apps and digital services via code, low-code, and no-code.
“The need to connect applications is mission-critical as software proliferates across enterprises. As a recognized leader in delivering API management, integration and customer identity and access management (CIAM) software to a global blue-chip customer base, WSO2 is strategically aligned with our focus on investing in high-growth software businesses,” says Matt Singer, Goldman Sachs Asset Management. “We are excited to provide capital to WSO2 at this unique inflexion point as it capitalizes on strong customer demand to bring new capabilities to deliver digital innovation and agility via the cloud.”
As enterprises worldwide advance their digital transformation initiatives, more employees are contributing to the development of new digital products and services that offer individualized experiences to users. This is driving the demand for more robust low-code approaches to improve employee productivity and create trusted, engaging customer experiences.