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MuleSoft raises $50 million, preps for IPO

03/13/2014

MuleSoft, the San Francisco enterprise technology company that specializes in the integration of business applications, has raised $50 million in a new funding round.

The round was co-led by New Enterprise Associates, Lightspeed Venture Partners, and Meritech Capital. Cisco, Salesforce.com, SAP Ventures, Morgenthaler, Hummer Winblad, and Bay Partners also participated. It brings the company's total raised to $131 million; its previous round last year pulled in $37 million.

"It was tremendously oversubscribed," chief executive Greg Schott told Fortune. "Probably one of the tightest rounds I've ever been associated with. What it comes down to is, if we can crack this nut it is potentially the biggest IT opportunity ever. Ten times bigger than the database market. We're trying to solve a $500 billion problem."

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