Mailgun, an e-mail API delivery service, revealed today that it was offering a bulk stake in the business to personal equity company Thoma Bravo The companies did not share terms, but this is the 2nd owner in the business’s eight-year history.
Mailgun offers API services for constructing email functionality into applications. It has more than 150,000 customers utilizing its APIs, according to data offered by the business.
In a blog post announcing the financial investment, CEO William Conway stated the brand-new money must help the business expand its capabilities and speed up the product roadmap, a common refrain from business about to be gotten.
” We will be investing millions in the advancement of products you can use to improve your deliverability, acquire more insights into your emails and provide an unequaled experience for your customers. We’re also doubling down on customer success and enablement to guarantee our customers have precisely what they require to scale their communications,” Conway wrote in the post.
The company, which was founded in 2010 and was a part of the Y Combinator Winter 2011 friend, has actually had a complicated history. Rackspace acquired it in 2012 and kept it till 2017, when it drew out into a private company. At that point, Turn/River, another personal equity company, invested $50 million in the business After today’s offer, Turn/River will maintain a minority ownership stake in Mailgun.
Mailgun usually contends with business like Mailchimp and SendGrid. Thoma Bravo has a history of purchasing enterprise software application companies. Most just recently, it purchased a bulk stake in business software application company Apttus It likewise has financial investments in SolarWinds, SailPoint and Blue Point Systems.
Thoma Bravo did not react to an ask for remark before publishing.