RapidAPI is a startup that assists a business in finding and integrating a third-party API and managing its usage of its own internal API. RapidAPI is a hub that allows developers to find, manage and connect to a big number of APIs, covering all the things from file storage and currency conversion to flight search and COVID-19 statistics.
The funding round Series D was led by SoftBank’s Vision Fund 2. Among other investors Qumra, Andreessen Horowitz, M12 (Microsoft’s Venture Fund), Viola Growth, Green Bay, and Grove Ventures. With this round, the company reached unicorn status. The funds raised will be used for building out more API functionality.
RapidAPI, San Francisco, was founded by Iddo Gino, Mickey Hasalvsky in 2015. Last year, the overall number of developers increased to 4 million. The startup is based on the freemium model, however more paying individuals have come, over 25 000. The user base is evenly split between enterprises and self-services individual users. “We are becoming a full suite of tools, anything you might need for API usage. When we started the main value proposition we were a marketplace for finding APIs. Now we are also being used by organizations to build those APIs. We are looking at every piece of the journey,” Iddo Gino, CEO.