Tiger-Backed Kong Valued at $2 Billion in Latest Funding Round

Kong Inc., a startup that helps customers manage application programming interfaces, was valued at $2 billion in an investment from firms such as Tiger Global Management.

The company attracted $175 million in the round, which was co-led by Tiger and Balderton Capital, according to a statement Tuesday. Existing investors, including Andreessen Horowitz, Index Ventures, Sapphire Ventures and CRV, also participated.

Companies are dealing with a flood of APIs — interfaces that let different pieces of software communicate — due to the spread of artificial intelligence and business applications. Kong’s cloud-based platform helps manage the potentially overwhelming number of API ...