Apigee raises $35M to wrestle with old-school APIs

Apigee, a Silicon Valley startup that develops and manages mobile application programming interfaces for the mobile carriers and other industries, has raised a $35 million in late round funding. The round was led by a fund managed by BlackRock(s blrk) with participation from existing investors Bay Partners, Focus Ventures, Norwest Venture Partners, SAP Ventures and Third Point Ventures.
Most interstingly, consulting and outsourcing firm Accenture(s acn) also got in on the round. Accenture consults for some of the biggest companies in the world, and it’s new ties with Apigee may mark its interest in managing the developer programs for those same companies.
Apigee’s core business is in building and supporting API platforms that developers can easily tap into to access a company’s data or services. It started out tracking APIs for the web, but it has made its biggest impact with old-school industries like telecom, translating the byzantine protocols used by networks and backend systems into a language developers can easily understand.
For instance, Apigee is running the OneAPI Exchange, an API program that rose from the ashes of the mobile industry’s failed Wholesale Application Community. OneAPI is intended to bring order to the API soup of mobile carriers, allowing a developer to design a single app that can tap into the location, ID verification and payment tools of multiple operators.
Apigee, however, has expanded beyond telecom, targeting big vertically integrated industries like healthcare and airlines. Walgreens(s wag) used Apigee’s expertise to create an API for its photo development services and plans to expand its relationship to expose its pharmacy and healthcare services.
According to CrunchBase, Apigee has now raised about $107 million, making this its Series F round.