WSO2, a provider of digital transformation technology, announced the completion of its Series E funding round with the addition of RedStart Labs (India), a subsidiary of Info Edge Limited.
The total amount of growth capital raised now stands at $93 million. Goldman Sachs Asset Management Private Credit (“Goldman Sachs”), which completed the first tranche of the Series E in November 2021, has joined Info Edge as a lead investor. Info Edge will contribute strategically to WSO2’s accelerated business expansion in India through its RedStart subsidiary.
“Across India, we’re seeing growing demand for our uniquely integrated approach to uniting best-in-class API management and integration with identity and access management as more organizations embrace digital business models,” said Dr. Sanjiva Weerawarana, WSO2 founder and CEO. “RedStart, as part of Info Edge with its deep market understanding, extensive network, and success in investing in digital businesses like Zomato, will play a strategic role in helping us accelerate our growth and customer adoption in India.”
WSO2 has been fulfilling its mission to democratize the development of modern applications and services since 2005 by providing industry-leading, cloud-native, and open-source technologies for API management, integration, and customer identity and access management (CIAM). The company is now expanding on these offerings with a new generation of platform-as-a-service solutions that will accelerate customers’ time to market and the ability to innovate even further.
“We believe WSO2 operates at the intersection of two powerful trends of an increasingly API driven world coupled with a wider adoption of open-source software by large enterprises for the flexibility and adaptability to offer agile, personalized services and innovative use-cases for their customers,” said Amit Behl, a partner at Info Edge, who led the company’s investment in WSO2.
He added, “As digital transformation accelerates across Indian enterprises and also as open-source forms the foundation of the government’s Digital India initiative, we expect India to emerge as a key market for WSO2 not only for its revenue potential but also for developer adoption.”
“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, WSO2 vice president and general manager –
MEA. “The investment by Info Edge via its RedStart Labs subsidiary is further validation of WSO2’s technology leadership, accelerating customer adoption, and strong business model. It will provide strategic contribution to our accelerated business expansion across the Middle East and Asian subcontinent.”
