Eyal Solomon, co-founder and CEO of Lunar.dev (from website)
Lunar.dev, an Israeli startup that boasts that it offers the first-ever API Consumption Management solution, launched its open-source platform, along with $6 million raised in a Seed funding round led by Uncork Capital with the participation of existing investor Angular Ventures. Lunar.dev said the funds will be used to expand the open-source platform and build out the company’s commercial SaaS offering, which will launch early next year.
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Founded in 2022 by CEO Eyal Solomon and CTO Roy Gabbay, created the first API consumption management solution, providing organizations with complete oversight and control over their API usage. The open-source solution can be set up in a matter of minutes, providing a holistic view of all APIs that are in use, along with metrics for each one of them, making it easy to identify performance bottlenecks, production issues, or unexpected costs. Real-time mitigations — like API quota management, unified throttling policies, or caching — can be implemented in production with no code changes required.
API consumption management is the process of monitoring, controlling, and optimizing the use of application programming interfaces (APIs). It involves a variety of tasks, including: Onboarding and authentication: Ensuring that only authorized users and applications can access APIs; Usage tracking and monitoring: Tracking API usage patterns to identify potential problems and optimize performance; Throttling and rate limiting: Controlling the rate of API requests to prevent overload and ensure fair access; Security and access control: Implementing security measures to protect APIs from unauthorized access and attacks; Analytics and reporting: Generating reports on API usage to gain insights into user behavior and identify trends.
API consumption management is essential for any organization that uses APIs to expose data or functionality to external users or applications. It helps to ensure that APIs are used securely, reliably, and efficiently. API consumption management is a critical part of any API strategy. By implementing effective API consumption management practices, organizations can ensure that their APIs are secure, reliable, and scalable, and that they are delivering value to their users.
“APIs are the backbone of modern software — but they’re also its Achilles heel,” said Eyal Solomon, co-founder and CEO of Lunar.dev. “Increasingly, APIs are powering mission-critical capabilities and they’re now a growing origin of costs. However, there’s no good way for organizations to maintain visibility and control over all of the APIs they use. Too often organizations only discover that there’s an issue once they’ve been saddled with an enormous invoice at the end of a billing cycle, or find themselves in the midst of a production outage, scrambling to locate the developer who can apply a code fix.”
