RapidAPI, the US-based operator of an application programming interface (API) marketplace, doubled a series B round featuring software provider Microsoft’s M12 subsidiary to $50m yesterday.
M12 co-led the round’s $25m second tranche with Andreessen Horowitz, Green Bay Ventures, DNS Capital and Grove Ventures. It came after a $25m first close led by M12 in June 2019 that included DNS Capital, Green Bay Ventures and Andreessen Horowitz.
Founded in 2015, RapidAPI operates a digital marketplace where software developers can access publicly available APIs – which help deliver user requests to external data or operating systems – in order to further enhance their applications.
The fresh funding comes at a time when RapidAPI is expanding its customer base and it will go toward supporting new users, adding third-party API providers and improving its existing product range.
Andreessen Horowitz led the company’s $9m series A round in early 2018, investing together with Green Bay Ventures, SV Angel and Tony Jamous, having already led a $3.5m seed round two years before featuring 500 Startups, FundersClub, Green Bay Capital, SV Angel and Jamous.
