US-based software application programming interface (API) marketplace RapidAPI has attracted $25m in a series B round led by M12, the corporate venturing arm of computer software and technology producer Microsoft.
Family office DNS Capital also took part in the round, together with venture capital firms Andreessen Horowitz and Green Bay Ventures. Axios reported RapidAPI raised $25m from M12 and Andreessen Horowitz in February 2019, and the official announcement is likely the confirmation of that round.
Founded in 2015, RapidAPI runs an online marketplace that lets enterprise clients improve their IT software by accessing a range of public APIs: software components which prompt applications to interact with external pieces of code.
The company recently introduced a feature that enables software engineers to collaborate on internal APIs while also managing the usage of internal and external APIs.
Mony Hassid, managing director of M12, has joined RapidAPI’s board of directors in conjunction with the round, which followed a $9m series A round in March 2018 led by Andreessen Horowitz and backed by Green Bay Ventures, SV Angel and Tony Jamous.
The company had secured $3.5m in a seed round also led by Andreessen Horowitz two years previously. Green Bay Ventures and SV Angel also backed that round, along with FundersClub and 500 Startups.