From David O’Neill, CEO & Founder, APIMetrics; and Mayur Upadhyaya, CEO & Cofounder, Contxt:
According to Akamai, 83% of internet traffic now comprises API calls. That’s right, for every 100 internet requests, a staggering 83 of them are directed towards APIs. This number has been on a steady rise and shows no signs of slowing down.
But what’s driving this monumental shift in how the web operates? It’s a confluence of factors, including the proliferation of the digital transformation, the Internet of Things (IoT), and the advent of remote work, which have led to an explosion in API-driven internet traffic.
One prominent trend in this API-driven world is the rise of Open Economies, powered by APIs. Take Open Banking, for instance, which has revolutionized the financial sector in the UK and is making waves globally. It’s a prime example of how APIs are facilitating innovation, providing a springboard for businesses to create seamless, secure, and efficient digital experiences.
In this dynamic landscape, a new role has emerged: the API product owner. Organizations are realizing that APIs are not just technical assets but also strategic tools for growth.
However, as the API ecosystem grows, so do the complexities of governance. Companies find themselves at a crossroads, grappling with questions of ownership and control.
At this juncture, table stakes for API owners include implementing robust authentication and authorization mechanisms, enforcing access control policies, encrypting data in transit and at rest, and monitoring API traffic diligently.
But the challenge lies in approaching APIs holistically, with active engagement from the business side, not just the security teams. The first step is monitoring API calls across a complex web of supply chain interactions.
This brings us to the big announcement: Contxt and APImetrics are merging to create a solution tailored for API product owners.
Our mission is clear: to empower businesses with a modern API product platform to observe, secure, and govern APIs for trusted digital growth. Our goal is to ensure that API stakeholders can create business value with confidence.
The merger is a significant milestone for both companies and the API industry as a whole. Together, we’ll provide organizations with end-to-end visibility, proactive security measures, and comprehensive monitoring capabilities for their APIs.
Our platform will empower businesses to optimize API performance, mitigate security risks, ensure regulatory compliance, and deliver exceptional user experiences.
By leveraging our combined expertise and technologies, we are poised to drive innovation and support API products now and into the future.
Our journey to empower businesses in the era of APIs is just beginning, and we invite you to join us on this exciting ride.