Cloud Elements, a Denver, Colorado-based cloud API integration platform, in a recent press release statement, announced raising $25 million in Series C funding round led by Mercato Partners, a Utah-based growth equity firm, and participated by its existing partners which includes, Access Ventures, American Express Ventures, Grotech Ventures, Harbert Growth Partners, Rally Ventures, and Upslope Ventures. With this new round of Series C funding, the company has raised a total capital of $46.2 million.
Cloud Elements will use this investment to promote its API (Application programming interface) integration platform for software providers, adding new capabilities to the platform, and to further expand its presence in the US and Europe.
According to Mark Geene, CEO and co-founder, Cloud Elements, APIs are well renowned to make the software work in tandem, but they also make the task uneasy for developers, who would now have to deal with hundreds or thousands of APIs to automate basic business processes. This challenge can’t be addressed by scaling point-to-point integration. Adding further, he said that the company virtualizes and simplifies API integration to make them all work in tandem, look the same and operate the same, by employing industry standards and protocols. Cloud Elements puts its application at the center of a digital ecosystem, basing the facts on common language and unified data models. That’s why the customers mention it as the integration that starts simple and stays simple.
The company’s strong customer base comprises of software platform companies like SAP and IBM; independent software vendors like Axway, DoubleDutch, FinancialForce, Microstrategy and Sage; fintech providers such as Danske Bank, FIS, PaySimple, and Western Union; and digital business units of enterprises like Dun & Bradstreet and Xerox.