Software Platform Hasura raises $100 million, becomes 2022's Tenth Unicorn
Greenoaks Capital led a new $100 million investment round for Hasura, a software startup that assists developers with tools. Existing investors Nexus Venture Partners, Lightspeed Venture Partners, and Vertex Ventures also participated in the round.
Hasura is now valued at $1 billion, making it the tenth startup in India to achieve unicorn status this year. It joins edtech company Lead School, direct-to-consumer brand Mamaearth, analytics platform Fractal, social commerce platform Dealshare, and HR tech company Darwinbox.
The cash will be used to expedite research and development and extend go-to-market activities for the company's flagship GraphQL Engine, which is situated in San Francisco and Bengaluru.
The company has raised a total of $136.5 million in equity, including the newest investment.
“This funding enables Hasura to greatly increase our innovation velocity, which in turn allows our rapidly-expanding user base to deliver software even faster.
With this funding round, our investors and the Hasura team are doubling down on our vision to solve data access and unlock the next decade of developer productivity. We’re going to be addressing the needs of our users by adding support for their favourite data systems much faster,” said Tanmai Gopal, chief executive officer, Hasura.
The latest fundraising follows a $25 million round led by Lightspeed Venture Partners in September 2020, with participation from previous investors Vertex Ventures US, Nexus Venture Partners, and Strive VC.
Hasura is an open source platform that provides a variety of tools to speed up the creation of web applications. It simplifies data access by generating a GraphQL API (application programming interface) that is backed by databases and services in real time, allowing the developer team (or API consumers) to increase productivity and iteration speed. The company claims that its solution has been downloaded over 400 million times.
After acquiring $225 million in a round led by Insight Partners last year, developer tool provider Postman was valued at $5.6 billion, making it one of the highest-valued Indian software businesses.
Hasura is now valued at $1 billion, making it the tenth startup in India to achieve unicorn status this year. It joins edtech company Lead School, direct-to-consumer brand Mamaearth, analytics platform Fractal, social commerce platform Dealshare, and HR tech company Darwinbox.
The cash will be used to expedite research and development and extend go-to-market activities for the company's flagship GraphQL Engine, which is situated in San Francisco and Bengaluru.
The company has raised a total of $136.5 million in equity, including the newest investment.
“This funding enables Hasura to greatly increase our innovation velocity, which in turn allows our rapidly-expanding user base to deliver software even faster.
With this funding round, our investors and the Hasura team are doubling down on our vision to solve data access and unlock the next decade of developer productivity. We’re going to be addressing the needs of our users by adding support for their favourite data systems much faster,” said Tanmai Gopal, chief executive officer, Hasura.
The latest fundraising follows a $25 million round led by Lightspeed Venture Partners in September 2020, with participation from previous investors Vertex Ventures US, Nexus Venture Partners, and Strive VC.
Hasura is an open source platform that provides a variety of tools to speed up the creation of web applications. It simplifies data access by generating a GraphQL API (application programming interface) that is backed by databases and services in real time, allowing the developer team (or API consumers) to increase productivity and iteration speed. The company claims that its solution has been downloaded over 400 million times.
After acquiring $225 million in a round led by Insight Partners last year, developer tool provider Postman was valued at $5.6 billion, making it one of the highest-valued Indian software businesses.
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