RapidAPI Raises $60M To Expand Next-Generation API Platform

RapidAPI, the Israeli-founded next-generation platform that helps developers find, manage, and test application programming interfaces (APIs), announced a new $60 million in a Series C funding round this month.

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.

This brings the total amount raised for RapidAPI to $122.5 million.

Founded in 2014 and based in San Francisco, RapidAPI helps developers discover and connect to thousands of public APIs that cover everything from file storage and currency conversion to flight search. The company offers Enterprise Hub, which businesses use to build private marketplaces for internal and external APIs. RapidAPI has a number of notable enterprise clients including SAP, Cisco, and Hyatt.

“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, in a statement. “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. 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,” he added.