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“The closing of the Series E investment round at $93 million, with Info Edge joining lead investor Goldman Sachs Asset Management, marks a significant milestone in WSO2’s growth,” said Uday Shankar Kizhepat.

According to a global survey of 300 C-suite banking industry executives, 54% believe their financial institutions have faced increased competition from digital alternatives over the last three years. These executives, however, indicate that they are better positioned to compete. Notably, 84% said they have the necessary technological tools to create new digital products and services to some extent or more.

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.

Organizations are accelerating their digital initiatives, but fail to meet company's security policies. With Asgardeo, enterprises can encode their security policies and standards to reduce development time and transform security reviews into simple check-the-box exercises.

WSO2's position in region was expanded in August with launch of additional offices in Dubai, a move made in response to a 70 percent increase in its regional customer base over the previous 18 months.

WSO2 has experienced a 70% increase in its customer base across the MEA area since 2020. Thousands of organizations, including hundreds of the world's major firms, colleges, and governments, rely on WSO2's open-source, cloud-native solutions.