RapidAPI, a next-generation API platform that enables developers and enterprises to manage thousands of APIs, has raised $60 million in its Series C funding round, enabling the company to support an influx of new developers to its platform.
The financing was led by Green Bay Ventures and includes new investor, Stripes. Existing investors include Andreessen Horowitz, DNS Capital, M12 (Microsoft’s Venture Fund), Viola Growth, and Grove Ventures, bringing the total amount raised for RapidAPI to $122.5 million.
The funds will be used to support the onboarding of leading API providers to the public marketplace and the expansion of the API platform, including RapidAPI's Enterprise Hub to serve the rapidly-growing enterprise customer base.
“As APIs become the building blocks for digital transformation efforts across all industries, we’ve seen a fundamental shift toward API platforms and tools like RapidAPI that are built to handle the realities of today’s complex, multi-cloud, multiservice, and multi-API environments,” said Iddo Gino, RapidAPI Founder and CEO. “RapidAPI’s next-generation platform is uniquely built for modern software development, providing a unified experience across the entire development life cycle, allowing millions of developers to connect with thousands of APIs and microservices.”
The investment comes after a high-growth year for RapidAPI amidst a pandemic that drove a record number of developers and companies to the RapidAPI platform to advance their digital initiatives and accelerate the delivery of their software and services to the market, according to the vendor.
Driven by the explosion of APIs, federation of API programs, acceleration of cloud initiatives, and the push to microservices, companies have turned to RapidAPI to modernize their infrastructure in order to remain competitive in today’s environment of digital disruption.
For more information about this news, visit https://rapidapi.com/.