Inveready enjoys 50% IRR on 3Scale partial exit

The VC reaped an IRR of more than 50% following the transaction. Javelin Venture Partners and Costanoa Venture Capital participated in the $4.2m funding round, which will enable 3Scale to broaden its service offering and increase its customer base.

Inveready continues to hold a stake in the company.

Previous funding
In 2010, Inveready led an $800,000 round for the company, investing via the Inveready Seed Capital vehicle. Inveready also provided debt to the firm.

Company
Founded in 2007 and based in Barcelona and San Francisco, 3Scale provides application programming interface (API) management solutions to more than 200 customers.

3Scale's platform is managed by the user directly and is free to adopt at entry level. It enables developers and companies to open, control, manage and monetise their API to third parties.

People
Noah Doyle is managing director at Javelin. Roger Piqué is a general partner at Inveready.

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• Topics
• Southern Europe
• Technology
• Expansion
• Exits
• Spain
• US
• Inveready First Capital