Apigee Finds $20M

It appears to be a big week for funding API developers, as Santa Clara-based Apigee, which develops API technology for corporations, said it has raised $20M in a round of funding. The company said the round was led by Focus Ventures, and also included Bay Partners, Norwest Venture Partners, SAP Ventures and Third Point Ventures. Apigee is the second, API company to get funding in as many days -- competitor Mashery announced a round yesterday. Apigee said its funds will go to scale development, marketing, and sales. The firm's API services and platform are used to help companies such as Walgreens, Netflix, eBay, and others to provide publicly accessible APIs for developers. More information »