The idea behind RapidAPI originated at a hackathon in 2015. Since then, Rapid has grown and changed tremendously to become the world’s largest API Hub where over 4 million developers find, test, connect, and collaborate on APIs.
The Octopus Becomes a Unicorn
Today, we are excited to announce RapidAPI’s $150M Series D funding at a $1B valuation.
The round was led by new investor SoftBank Vision Fund 2, with participation from Qumra, and many of the company’s existing investors, which include Andreessen Horowitz, M12 (Microsoft’s Venture Fund), Viola Growth, Green Bay, Grove Ventures, and Stripes.
We are immensely grateful for everyone who has supported RapidAPI so far, including our employees, developer community, investors, and other advocates.
The recent fundraising will help scale and expand the capabilities of the API Hub. Additionally, the funding will support the growing demand for RapidAPI Enterprise Hub deployments. RapidAPI almost tripled the number of enterprise deployments in 2021 and plans to continue growing at that rate in 2022.
The API economy is expected to continue expanding in 2022 and beyond. RapidAPI’s State of Enterprise APIs survey found nearly all respondents (98%) believe that APIs are an essential part of their organization’s digital transformation. RapidAPI’s CEO and Founder, Iddo Gino, explained:
“The pandemic and rapid change it has precipitated over the last two years has compelled almost every company to become a digital player very quickly. This has created huge demand and subsequent shortage of developers, hindering an organization’s ability to fully invest in digital transformation efforts.
As a result, companies are turning to APIs and tools like RapidAPI to realize the productivity and innovation benefits of digitizing their organization.”
RapidAPI in the News
For more information and updates, check out the recent news about RapidAPI:
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