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Wednesday, November 29, 2023

Hasura joins unicorn club with $100M in Series C funding round

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Hasura has raised $100 million in a Series C round of funding. The open source startup has become a unicorn after this round.

Hasura, an open source firm, has raised $100 million in a Series C fundraising round led by Greenoaks and also including Lightspeed’s growth arm, Vertex, Nexus, and Strive.

The ‘Series C’ investment raises Hasura’s total capital raised to $136.5 million and the company’s valuation to $1 billion, putting it in the ‘unicorn’ club. Hasura simplifies data access by rapidly creating a GraphQL API that is supported by databases and services, allowing the developer team (or API consumers) to begin working immediately.

“With this funding, we will be able to speed the development and adoption of our GraphQL engine, making it open to everyone,” the firm stated in a statement.

Hasura has developed GraphQL as an open source data query and manipulation language for APIs.

“We’re pleased to double down on all of the work we’ve been doing, and continue working alongside partners that share our ambition to build a sustainable infrastructure firm for developers in the next decade and beyond,” said Tanmai Gopal, Hasura’s co-founder and CEO, in a blog post.

Going forward, Gopal stated that the growth plan will be to catalyse Hasura’s presence everywhere, to continue solving for what users want and need, and to further enhance and solve for emerging use-cases, even if they are already utilising Hasura.

“Thanks to the efforts of our sales and marketing teams, we have onboarded some of the world’s largest companies and fastest growing startups as customers over the previous year.”

We will continue to make major investments in our go-to-market teams in order to speed this endeavour, which is a critical component of developing a sustainable firm,” he added.

Gopal further stated that the startup is hiring to support mission-critical applications in data-driven journalism, tele-health, electric car firms, contemporary manufacturing and logistics, space technology, and other areas.

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