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RapidAPI nabs $25M led by Microsoft as its API marketplace cracks 10K APIs and 1M users

APIs — the lightweight programming interfaces used by developers to integrate other applications with theirs, or to help their apps integrate with others — have become an essential building block of our software-powered world, with a majority of organizations building and working with them and, by some estimates, upwards of 50,000 of them in circulation today.
Those numbers and popularity, however, can lead to a lot of fragmentation and disorganization in terms of discoverability. Now, one of the startups that’s building a marketplace to help fix these problems has raised funding to capitalise on the opportunity.
RapidAPI, which developers use to search for, pay and connect to public APIs, has closed a Series B round of $25 million.
CEO and co-founder Iddo Gino said in an interview that the startup plans to use the funding to continue both expanding the size of its marketplace and the kinds of tools that it provides to developers to engage with it.
Up first will be a new product aimed at developer groups, appropriately titled RapidAPI for Teams, which will help them not only manage their use of public APIs but also organise and use their own internal APIs and microservices. (The product will be free for up to five developers and charged at $10 per user per month thereafter for unlimited calls, Gino said.)
The funding comes at a time of decent growth for the startup. The company now counts 10,000 APIs in its marketplace, which it estimates covers 33% of all publicly available APIs globally (leaving lots of room still to grow); with developers using RapidAPI now standing at 1 million, who now collectively make 500 billion API calls each month from a wide variety of companies big and small, including Microsoft, SendGrid, Nexmo, Telesign, Google, Skyscanner  and Crunchbase (TC’s cousin).
Customers, meanwhile, include some of API providers along with other enterprises, including Cisco, Hyatt, SAP, Delta, and Reddit .
In addition to that we have 20,000 more APIs that are either stale (not used, mostly private) or are used by just one user in private mode so we don’t consider them in our count.
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