NGINX, Inc., the company based on the open source project, offers a suite of technologies designed to develop and deliver modern applications. It has raised $43 million in Series C funding led by Goldman Sachs Growth Equity (GS Growth), a platform within Goldman Sachs’ Merchant Banking Division. The Series C brings NGINX’s total funding to $103 million.
According to Gartner Research, application modernization is imperative to achieving successful digital outcomes and drives increased enterprise adoption of microservices architecture to complement legacy applications and support evolving application demands. NGINX strives to help enterprises at each step of the modernization journey—a market that is growing at a 16 percent compound annual growth rate, and is projected to reach $32.01 billion by 2023, according to the company.