Mashery Internet Startup Receives Funding From Cisco Systems
Mashery Inc., which helps companies manage relationships with independent Web developers, said it raised $11 million from investors including Cisco Systems Inc. (CSCO), to help it expand and hire more workers.
The investment round was led by OpenView Venture Partners, Chief Executive Officer Oren Michels said in an interview. The San Francisco-based company plans to disclose the investment in a filing with regulators in the next week or so, he said.
Mashery works with companies including Best Buy Co., New York Times Co. (NYT) and Netflix Inc. (NFLX) to reach consumers through smartphones, tablet computers and televisions. By expanding beyond the Web browser, Mashery helps businesses connect with an increasing number of consumers accessing movies, reading news and buying products across a variety of Internet-connected devices.
“We’ve now entered the post-website era,” Michels said. “Customers need to interact with you whenever and wherever. We take a company that does business on the Web and help them create new experiences to grow their business.”
Mashery, started in 2006, will use the money to hire engineering, sales and marketing employees, Michels said. Existing investors .406 Ventures, Formative Ventures and First Round Capital also joined the round. Mashery has raised about $25 million in total.