Layer 7 Technologies
Security and management products for api-driven integrations spanning the extended hybrid enterprise.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
| N/A | €0.0 | round | |
$180m Valuation: $180m | Acquisition | ||
| Total Funding | 000k | ||
Layer 7 Technologies, founded in 2002 by Dimitri Sirota, Toufic Boubez, Jamie Glennon, and Lonny McLean, established itself as a pivotal entity in the application programming interface (API) security and management sector. The company correctly anticipated the explosion of the API-driven economy, fueled by the proliferation of mobile, cloud, and IoT applications. This foresight allowed Layer 7 to become a key player, providing technology that enables corporations to securely and efficiently expose their data and services to partners and developers.
The firm's core business revolves around a comprehensive API management platform, available both on-premise and via the cloud. This platform equipped enterprises with the necessary tools to govern the entire API lifecycle. Key features included an API Gateway for securing and mediating traffic, a developer portal to publish and document APIs for easy consumption, and robust analytics capabilities. The business model focused on serving large enterprise clients, including notable names like Cisco, Adobe, General Motors, and various U.S. government agencies, who required enterprise-grade security and scalability. Layer 7's product distinguished itself with strong security features like OAuth, OpenID Connect, and advanced threat protection, addressing the critical need to secure proprietary data exposed through APIs.
After raising $21 million in venture capital from primarily Canadian investors, Layer 7 demonstrated significant growth, reporting $30 million in revenue in 2012. The company's success culminated in its acquisition by CA Technologies in April 2013 for an estimated $180 million, a landmark deal for Vancouver's tech scene. The acquisition integrated Layer 7's API management capabilities into CA's broader security and DevOps product suites, aiming to provide customers with a comprehensive solution for managing the modern application landscape. The technology continues to exist as a product line, now under Broadcom, which subsequently acquired CA Technologies.
Keywords: API management, API security, API gateway, application programming interface, developer portal, API lifecycle management, OAuth, identity and access management, cloud services, mobile applications, IoT, CA Technologies, Broadcom, data security, enterprise software, network security, Dimitri Sirota, Toufic Boubez, API monetization, API governance