MuleSoft receives $50 million in funding
MuleSoft is a San Francisco based enterprise technology company that integrates business applications. MuleSoft has raised $50 million in a new round of funding co-led by New Enterprise Associates, Lightspeed Venture Partners, and Meritech Capital. Cisco Systems, Salesforce.com, SAP Ventures, Morgenthaler Ventures, Hummer Winblad Venture Partners, and Bay Partners also participated in this round.
MuleSoft has now raised a total of $131 million after this round. Last year, MuleSoft raised $37 million. According to MuleSoft’s description, the company provides the most widely used integration platform for connecting software-as-a-service and enterprise applications in the cloud and on-premise.
“It was tremendously oversubscribed,” stated MuleSoft CEO Greg Schott in an interview with Fortune. “Probably one of the tightest rounds I’ve ever been associated with. What it comes down to is, if we can crack this nut it is potentially the biggest IT opportunity ever. Ten times bigger than the database market. We’re trying to solve a $500 billion problem.”
MuleSoft competes against IBM’s WebSphere and Oracle’s Fusion software along with companies like Tibco and Informatica. MuleSoft will be using the money to hire 250 employees and double the company’s headcount in sales/marketing and engineering. MuleSoft will also use the funding for further international growth.