RapidAPI is an Israeli startup which boasts that it offers a service where over half a million developers find and connect to thousands of public APIs. The company has a team of developers based in San Francisco, Tel Aviv and Kiev. RapidAPI has raised $60 million in a series C funding round, led by Green Bay Ventures and includes a 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 by RapidAPI to $122.5 million.
API is the acronym for Application Programming Interface. This is a software intermediary which enables two applications to communicate with one another. Every time that someone uses an app like Facebook, sends an instant message, or a Tweet, they are using an API.
RapidAPI states that is was established “by developers for developers so they could have one place to access APIs and Microservices and build applications more efficiently and easily.” Today, RapidAPI says that it is the world’s largest API Marketplace where over 1 million developers can “find, test, and connect to tens of thousands of APIs — all with a single account, single API key, and single SDK.”
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(1/4) RapidAPI has officially raised $60M in Series C funding to continue our mission and empower developers around the world to create transformative software applications!
— RapidAPI (@Rapid_API) April 21, 2021
Software developers can also share and collaborate on internal APIs using RapidAPI for Teams, a common workspace to publish internal APIs and share public API subscriptions. In turn, organizations can use RapidAPI Enterprise to create a centralized hub environment to help developers reuse and connect to existing APIs faster while providing IT with enterprise-wide visibility and governance of API consumption.
“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.”
“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,” added Gino. “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. We plan to double our workforce from 100 to 200 people, with half of the new employees to be hired in Israel.”