WSO2 attracts $10 mn in funding following 220 % YOY growth

Middleware Company WSO2, announced that it has closed a $10 million funding round led by Toba Capitaland joined by Cisco and Intel Capital.

The investment comes in the wake of a 220% year over year increase in new customer bookings in 2012, as enterprises worldwide adopt WSO2’s award-winning cloud and enterprise middleware to achieve greater agility and fast-track their innovation.

“We recognized early on that the rapidly evolving opportunities and challenges facing today’s enterprises would be best supported by redefining middleware as a modular platform that could be implemented, expanded and modified just as quickly. The strong revenues, customer adoption, and scale of deployments worldwide are powerful validation of our vision,” said Dr. Sanjiva Weerawarana, WSO2 founder and CEO.

“With the investment by Toba Capital, Cisco and Intel Capita, leaders in cultivating technology innovator, we can now strategically accelerate our ability to deliver on this vision.”

WSO2 will use growth financing to expand its global operations and grow its marketing, sales and support teams in the United States and Europe.

The company also is advancing the delivery of next-generation middleware solutions that address the new business and IT models fueled by mobile computing and the cloud. To help spearhead this effort, WSO2 also announced today that TIBCO co-founder John Mathon has joined as WSO2 vice president of product marketing.

With the investment, Tyler Jewell, CEO of Codenvy and representing Toba Capital, has joined the WSO2 board as an observer.

Vincent C. Smith, Managing Director of Toba Capital said, “WSO2 has an exciting team of proven entrepreneurs, who are delivering real value to large brands that demand an agile solution for their mission-critical applications. We are excited to invest in WSO2, and with a doubling of new customers year to year, we believe the company has tremendous potential for growth.”

Lisa Lambert, Vice President and Managing Director, Software and Service Group, Intel Capital said, “WSO2 has tapped into a fundamental need for today’s enterprises to move seamlessly throughout the organization and across the cloud by re-imagining its platforms as interlocking pieces that form a bridge across these environments.

With the newest funding round, WSO2 is set to expand its services and support for the rapidly growing base of customers worldwide that are building their next-generation solutions around these platforms.”