Push Technology is about to aggressively expand its sales and marketing efforts to push its application programming interface (API) management solutions after raising a £10m Series A round.
Maven Capital Partners, the investor that has previously backed ventures like UK InsurTech startup honcho, led Push Technology’s new cash injection.
“Push Technology’s offering is well-timed with the rapidly escalating demand for solutions that extend systems and applications across web and mobile networks reliably and securely,” said Andrew Symmonds, investment director at Maven Capital Partners. He will join the Push Technology board of directors as part of the investment.
“Companies everywhere are increasingly reliant on web, mobile and IoT systems and applications to drive business growth. Push Technology’s real-time API platform is a powerful cross-industry solution and Maven are excited to collaborate with and support them as they continue to build a great company in an exciting category.”
The round also saw participation from new and existing investors Guinness Asset Management and Stephens Capital Partners. Guinness Asset’s investment manager Ashley Abrahams will join Push Technology’s board of directors as part of the deal.
“We are in the enviable position of serving the rapidly expanding market for real-time web, mobile and IoT communications,” said Sean Bowen, CEO of Push Technology. “The added financial support and counsel of Maven Capital Partners and Guinness Asset Management will allow us to execute our vision more rapidly and broadly.”
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