Helsinki-based no-code API Portals-as-a-Service platform Apiable secures $500K in a pre-seed round led by Icebreaker.vc. Apiable enables organisations to join the API economy and open new revenue streams by creating digital connections quickly and without huge development costs. The funding will help the startup scale its operations to meet latent demand for its platform as organisations recognise the need to create digital versions of their products and services.
Founded by a team of former Swisscom API product specialists, Apiable enables organisations to open new revenue streams by creating digital connections quickly and without the huge development costs involved. By taking a no-code approach, Apiable customers can set up their own branded API portal in less than an hour – meaning they can focus instead on growing their business rather than assigning resources to development (circa €80,000).
Apiable was founded in 2020 with the aim of solving the problem of inadequate tools for API management that are not focused enough for companies wishing to invest in the API ecosystem. The platform has been developed alongside Apiable’s first customer, cycling insurance provider Bikmo, to ensure it was being designed with customer feedback and input at every stage.
“In our mission to protect the world’s riders and over 70% of our policy sales being triggered by a new bike purchase, having a seamless integration with bike brands and retailers at the point of sale online or in-store is crucial. Apiable has been instrumental in enabling us to provide a suite of API products meaning we can launch with partners quickly and easily. They’ve been easy to work with and will be a long-term part of our platform ecosystem,” says Dave George, CEO, Bikmo.
“CEOs and innovation leaders within organisations understand that in order to survive and thrive they need to create digital versions of their products and services. This means they need to create APIs and make them available on an API portal to attract customers and partners. However, building and maintaining an API portal distracts them from their core business, and finding the development resources is difficult and expensive,” said Allan Knabe, CEO, Apiable. “With Apiable, we have done this for them and short-circuited the entire process involved in joining the API economy. With the commitment from Icebreaker.vc, we are in a great position to build on the traction we have experienced in the last 12-months.”
“The Apiable team has deep expertise in building API portals, and we see the need for APIs proliferating through most companies, even ones you couldn’t imagine. We’re thrilled to be supporting Apiable and the digital economy,” commented Riku Seppälä, General Partner, Icebreaker.vc.
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