WSO2, digital transformation technology, today announced that the company has completed its Series E funding round with the addition of RedStart Labs (India), a subsidiary of Info Edge Limited.
The move brings the total growth capital raised to $93 million. Info Edge joins lead investor Goldman Sachs Asset Management Private Credit, which completed the first tranche of the Series E in November 2021. Info Edge, through its RedStart subsidiary, will contribute strategically to WSO2’s accelerated business expansion across India.
WSO2, with more than 800 customers in over 90 countries, has already established a strong presence in India, it said.
“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.”
Amit Behl, a partner at Info Edge, who led the company’s investment in WSO2, said, “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. As digital transformation accelerates across Indian enterprises and also as open-source forms the foundation of 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.”