WSO2 closes $90 million in financing from Goldman Sachs

WSO2 announced that it had secured $90 million in funding from Goldman Sachs Asset Management Private Credit’s client vehicles (“Goldman Sachs”). WSO2 will use the flexible funding solution to expand its global business, increase its global partner network, and support the rollout of its next-generation, cloud-native solutions for securely delivering APIs, apps, and digital services.

The new Ballerina-powered solutions will provide organizations with a seamless blend of low code and pro code experience and the power of DevOps and modern SDLC principles, such as integrated reuse inside 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,” said Dr. Sanjiva Weerawarana, WSO2 founder and CEO.

He added, “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 the 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.”

“The need to connect applications is mission-critical as software proliferates across enterprises. As a recognized leader in delivering API management, integration, and CIAM software to a global blue-chip customer base, WSO2 is strategically aligned with our focus on investing in high-growth software businesses,” said Matt Singer from Goldman Sachs Asset Management.

He also said, “We are excited to provide capital to WSO2 at this unique inflection point as it capitalizes on strong customer demand to bring new capabilities to deliver digital innovation and agility via the cloud.”

More employees contribute to the development of new digital products and services that deliver personalized experiences to users as businesses worldwide advance their digital transformation programs. As a result, there is a growing demand for more robust low-code techniques to boost employee productivity and deliver trustworthy, engaging consumer experiences. WSO2 will use the Goldman Sachs capital to launch a new generation of platform-as-a-service services that will make its industry-leading cloud-native technologies for API management, integration, and customer identity and access management more accessible to everyone (CIAM).

WSO2 will invest in increasing the features and community around Ballerina, the open-source language that drastically simplifies how developers build and deploy cloud-native applications, in addition to supporting the company’s commercial solutions. Choreo is WSO2’s first commercial solution to use Ballerina to allow employees of all skill levels to cooperate in the development of new apps and digital services using code, low-code, and no-code.