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Business News/ Companies / Start-ups/  Open source startup Hasura turns unicorn with $100-mn Series C funding
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Open source startup Hasura turns unicorn with $100-mn Series C funding

The 'Series C' funding round brings the total capital raised by Hasura to $136.5 million and the company's valuation to $1 billion

Hasura plans to use this funding to accelerate the development and adoption of GraphQL engine to make it available to everyonePremium
Hasura plans to use this funding to accelerate the development and adoption of GraphQL engine to make it available to everyone

Open source startup Hasura has secured $100 million in a Series C funding round, led by Greenoaks and also participated by of Lightspeed’s growth arm, Vertex, Nexus, and Strive.

The round 'Series C' brings the total capital raised by Hasura to $136.5 million and the company's valuation to $1 billion, placing it in the 'unicorn' league.

Hasura makes data access easy, by instantly composing a GraphQL API that is backed by databases and services so that the developer team (or API consumers) get immediately productive.

"This funding will allow us to accelerate the development and adoption of our GraphQL engine to make it available to everyone," the company said in a statement.

GraphQL is an open-source data query and manipulation language for APIs.

"We’re excited to double down on all the work we’ve been doing, and continue working alongside partners who share our vision to build a lasting infrastructure company for developers in the next decade and beyond," said Tanmai Gopal, co-founder and CEO of Hasura, in a blog post.

Gopal said, going forward, the growth strategy will be to catalyse Hasura being everywhere, and keep solving for what users want and need and further enhance and solve for emerging use-cases, when they’re already using Hasura.

"Over the last year, we have onboarded some of the world's largest enterprises and fastest growing startups as customers, thanks to the efforts of our sales and marketing teams. We will continue making significant investments in our go to market teams so we can accelerate this effort - a crucial part of building a sustainable organization," he added.

Gopal also said the unicorn is hiring to enable its mission-critical applications in data-driven journalism, tele-heath, electric car companies, modern manufacturing and logistics, space technology and more.

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Published: 22 Feb 2022, 09:56 PM IST
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