RapidAPI raises $25M more to expand its API marketplace

Less than a year after raising $25M led by Microsoft for its take on building API marketplaces, RapidAPI has rapidly followed that up with another infusion of capital as it reaches 20,000 APIs tracked, integrated, and used across its marketplace by millions of developers. Today the startup is announcing that it raised another $25 million from existing investors Andreessen Horowitz, DNS Capital, Green Bay Ventures, M12 (Microsoft’s Venture Fund), and Grove.
This is a second closing of RapidAPI’s Series B, which we first wrote about last year, bringing the total for the round to $50 million and $62.5 million overall. PitchBook notes that the startup’s previous valuation was $80 million, which would put this now at upwards of $105 million but likely higher, considering that the company has scaled by quite a bit. Co-founder and CEO Iddo Gino would not disclose the actual amount in an interview this week.
APIs are the building blocks of today’s digital world: developers use them to quickly integrate features, data, services and functions into their own apps, removing the need to build and scale all those elements themselves from scratch. But while the big selling point of using APIs is that they allow developers to integrate using only a few lines of code, that doesn’t tell the whole story. The issue is that a lot of API interfaces are not uniform and so sourcing and using a variety of them can become very time-consuming and on aggregate a lot more difficult than the basic concept of API would have you assume.
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