Mailgun, an electronic mail API supply service, introduced at this time that it was promoting a majority stake within the firm to personal fairness agency Thoma Bravo. The businesses didn’t share phrases, however that is the second proprietor within the firm’s 8+ yr historical past.
Mailgun supplies API companies for constructing electronic mail performance into functions. It has over 150,000 clients at this time utilizing its APIs, in response to information offered by the corporate.
In a weblog publish saying the funding, CEO William Conway mentioned the brand new cash ought to assist the corporate broaden its capabilities and speed up the product roadmap, a typical chorus from corporations about to be acquired.
“We can be investing tens of millions within the growth of merchandise you should utilize to reinforce your deliverability, achieve extra insights into your emails and ship an unparalleled expertise in your clients. We’re additionally doubling down on buyer success and enablement to make sure our clients have precisely what they should scale their communications,” Conway wrote within the weblog publish.
The corporate, which was based in 2010 and was part of the Y Combinator Winter 2011 cohort, has had a fancy historical past. Rackspace acquired it in 2012 and held onto it till 2017 when it spun out into a non-public firm. At that time, Flip/River, one other non-public fairness agency, invested $50 million within the firm. After at this time’s deal, Flip/River will preserve a minority possession stake in Mailgun.
Mailgun usually competes with corporations like MailChimp and SendGrid. Thoma Bravo has a historical past shopping for enterprise software program corporations. Most not too long ago, it purchased a majority stake in enterprise software program firm Apttus. It additionally has investments in SolarWinds, SailPoint and Blue Level Techniques.
Thoma Bravo didn’t reply to a request for remark earlier than publishing.