This news comes on the heels of its Series D round. RapidAPI plans to use the funding to explore acquisition opportunities. Here are the top-line bullets you need to know.
RapidAPI, an API management platform, has raised $150M in a Series D. The round drew participation from Andreessen Horowitz, Green Bay Ventures, Grove Ventures, M12, Qumra Capital, SoftBank Group, and Viola Growth.
HOW’S THE COMPANY PERFORMING?
- California-based RapidAPI enables developers and enterprise teams to search, connect with, and manage APIs across several cloud environments.
- The company’s revenue grew by 110% in 2021.
- The startup saw its developer community grow by 1M members to reach 4M in 2021 — 25K new developers subscribed to paid plans.
- The company nearly tripled its enterprise deployment count in 2021. Some of its enterprise clients include SAP, Hyatt, and Cisco.
WHY DOES THE MARKET MATTER?
- The global API management market is expected to reach a value of $13.6B by 2028, growing at a CAGR of 28.77%, according to Verified Market Research.
- Increasing smartphone penetration and the widespread proliferation of applications have contributed to market growth.