Press release

RapidAPI Raises $25M Series B, launches RapidAPI for Teams

Sponsored by Businesswire

the world’s largest API marketplace that helps developers find and
connect to thousands of publicly available APIs, announced today that it
has raised $25 million in Series B financing. The funding round is led
by M12
(Microsoft’s Venture Fund), with participation from DNS Capital, and
existing investors Andreessen Horowitz and Green Bay Capital. The round
brings total funding to date to $37.5 million.

“Ten years ago, companies would develop software as a single monolith.
With the shift to microservices, that monolith is deconstructed to
hundreds of external APIs and dozens of internal APIs,” said Iddo Gino,
RapidAPI Founder and CEO. “We started RapidAPI to help developers better
manage and consume external APIs, and now we enable them to share and
collaborate on internal APIs too, allowing them to work with greater
velocity and efficiency.”

Since its Series A funding announcement in March 2018, RapidAPI expanded
its team to 50 people, grew the number of APIs in its public marketplace
to 10,000 (up from 8,000), capturing over 33% of publicly available
APIs, and doubled the number of developers using its platform (from
500,000 to 1,000,000 developers), processing over half a trillion API
calls (up from 400 billion calls) each month.

“Responding to the torrid growth of the API economy, RapidAPI is
changing the way businesses scale with APIs and microservices,” said
Mony Hassid, General Manager and Managing Director at M12. “We are
excited about the potential for RapidAPI to enhance developers’
productivity, streamline duplicative work, and assist to combine API
contracts.” Hassid recently joined RapidAPI’s board of directors.

RapidAPI spent the past four years building the top public API
marketplace, and, while working with its enterprise clients, the company
realized the value in helping teams not only connect to public APIs but
also manage their internals APIs. Today the company has expanded its
public API marketplace offering by introducing RapidAPI
for Teams
: a
self-serve platform
for developers to publish, share and collaborate
on internal APIs and microservices, as well discover, test, enable, and
manage the consumption of both internal and external APIs, all in one

Many companies consistently underestimate the number of APIs they use.
Currently, every piece of software that exists today leverages APIs, and
according to a survey
by Ping Identity, 25% of companies have over 1,000 internal APIs or
microservices, and another 35% have 400–1,000 internal APIs. Managing
such a wealth of internal APIs breeds a host of challenges, including
ways for developers to easily discover and access these internal APIs
and enabling IT leadership to have clear visibility into API usage and
data flow within the organization.

With RapidAPI for Teams, companies can avoid code and effort
duplication, ensure that their APIs produce consistent accurate data and
results across platforms and devices, and save money: a company with
20,000 employees reported $10 million savings a year as a result of
using RapidAPI for Teams*. Free for the first five developers, RapidAPI
for Teams is offered at $10 per developer per month and includes an
unlimited number of teams, APIs, and API calls.

Martin Casado, general partner at Andreessen Horowitz, said: “As the
lego blocks for building a connected future, APIs help companies access
data and competencies they wouldn’t otherwise have, or need to have, for
that matter. We’re excited to support RapidAPI’s growth and their vision
to help companies succeed with APIs.”

The APIs available within RapidAPI’s marketplace include Microsoft,
SendGrid, Nexmo, Telesign, Google, Skyscanner, Crunchbase and many
others. RapidAPI also works with large enterprise clients, including
Cisco, Hyatt, SAP, Delta, and Reddit.

* According to an internal ROI analysis of engineering costs at a
technology company with 20,000 employees.

What are APIs?

APIs – Application Programming Interfaces – are ways for programs to
communicate with other programs. More specifically, they are often used
by developers to connect to third party services that help them perform
certain functions. Those functions are things like:

  • Sending an email
  • Charging a credit card
  • Generating a shipping label
  • Getting sports scores

About RapidAPI

RapidAPI is the world’s largest API marketplace where over a million
developers find and connect to thousands of public APIs, as well as
share and collaborate on internal APIs. We’re a team of developers,
building for developers, based in San Francisco, Tel Aviv, and Kiev.

About M12

As the corporate venture arm for Microsoft, M12 (formerly Microsoft
Ventures) invests in enterprise software companies in the Series A
through C funding stage with a focus on big data & analytics, business
SaaS, cloud infrastructure, machine learning & artificial intelligence,
productivity and security. As part of its value-add to portfolio
companies, M12 offers unique access to strategic go-to-market resources
and relationships globally. The Company has offices in New York, San
Francisco, Seattle, London and Tel Aviv.


Iddo Gino’s headshot, a team photo and other visuals supporting the
announcement are available