SAN FRANCISCO — RapidAPI, an API platform that enables developers and enterprises to find, connect to, and manage thousands of APIs, has raised $60 million in its Series C funding round. 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 investment comes on the heels of 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.
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.
The recent fundraise will be used to support the influx of new developers to the platform, 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.”
Added Gino, “Over the course of the year, we’ve made significant investments in our platform, adding API testing and API design through the acquisition of Paw in February. The additional funding will enable us to continue to build a flexible API platform with the features and functionality needed to provide developers and organizations with a flexible platform that integrates with an organization’s existing software development environment, making it easier to find, connect to, and manage APIs.”