MuleSoft raises $128 million at $1.5 billion valuation

Now a member of the unicorn club, the integration software maker plans to focus on international growth and technology development.


Integration software maker MuleSoft announced Tuesday the close of a $128 million financing round.

Salesforce Ventures, one of MuleSoft's key sales partners, led the round, with new strategic investors ServiceNow and Cisco also taking part.

The funding gives the San Francisco-based company a valuation of $1.5 billion and a position in elusive unicorn club.

To date MuleSoft has raised $259 million, including a $50 million round announced in March 2014. MuleSoft says it plans to use the new funding for international expansion and technology development.

Founded in 2006, MuleSoft's business revolves around its set of application programming interfaces, which companies can use to connect cloud applications to legacy software and databases.

MuleSoft says it has more than 700 enterprise customers hailing from a range of industries, including FIs Barclays and Wells Fargo, automakers BMW and Tesla, and cloud players such as Box and Intuit. It's that name-heavy enterprise customer base that will help MuleSoft compete with legacy providers like IBM and budding startups IFTTT and SnapLogic.

"Companies need a platform that can unlock the full potential of the applications and data that power the connected era. APIs are the rocket fuel for connecting what's never been connected before," MuleSoft CEO Greg Schott said in a statement.

Additional investors include NEA, Lightspeed Venture Partners, Meritech Capital Partners, Bay Partners, Hummer Winblad Venture Partners, Morgenthaler, and Sapphire Ventures.