Stoplight, which manages application development software for companies, announced this week that it has raised $6 million in additional funding.
The Austin-based startup closed its Series A round of funding co-led by Next Coast Ventures and Bill Wood Ventures.
To date, Stoplight has raised $10 million. The company plans to use the funding for engineering, product development and customer service.
Stoplight’s technology helps organize and manage more than 22,000 Application Program Interfaces or APIs.
“With IoT and AI poised to rise to new heights of integration in the coming decade, enterprises finally have the opportunity to unburden their microservices architecture,” Stoplight CEO Marc Macleod said in a news release. “Next Coast Ventures and Bill Wood Ventures have deep experience building lasting B2B companies, and we couldn’t ask for better partners to grow Stoplight to the next phase of success.”
Spotlight first came to Austin in 2015 to participate in the Techstars program. Last year, the company launched its Stoplight Studio. It saw more than 200 percent year over year growth in 2019 and it hired 15 new employees and launched two new products. Stoplight has attracted more than 500 paying customers in a vast array of industries including Honeywell, Zendesk, and SendGrid.
“Stoplight created the category of API design management, and their incredible traction validates what the market needs,” Mike Smerklo, co-founder and managing director of Next Coast Ventures said in a news release. “API-first design is becoming a fundamental component of enterprise engineering, and we have full confidence that Stoplight will only deepen their category leadership in the next several years.”
“The online world is evolving into a network of connected sensors and smart devices,” Bill Wood, general partner at Bill Wood Ventures, said in a news release. “Without adequate API design management, the next evolution will never reach its full potential. Stoplight is an integral part of enabling developers to design our new online world.”