Software Startup Hasura enters the unicorn club with a US$100 million fundraise

Developer tools startup Hasura has raised US$100 million in its latest funding round led by venture capital firm Greenoaks. Existing investors Lightspeed Ventures, Nexus Venture Partners, and Vertex Partners also joined the round.

The Series C round brings the total funding raised by Hasura to US$136 million and the company’s valuation at US$1 billion making it the tenth startup this year in India to enter the unicorn club.

Hasura which is based in Bengaluru and San Francisco plans to use the fresh funding to accelerate R&D and expand go-to-market activities globally for its GraphQL Engine.

The new funding has come after the company had raised US$25 million in September 2020 from Lightspeed Venture Partners along with participation from existing investors Nexus Venture Partners, Vertex Ventures US, SAP.iO Fund, and Strive VC.

“Over the last few years, we’ve worked closely with our users and customers to address a massive gap in delivering and consuming data via an API standard that developers love-GraphQL. 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,” said Hasura CEO Tanmai Gopal.

About Hasura

Founded by Tanmai Gopal and Rajoshi Ghosh in 2017, Hasura is a software technology company that builds developer tooling products, including open-source tools, backend as a service, and platform as a service product. The Hasura GraphQL Engine provides GraphQL APIs over new or existing Postgres databases.

The platform is designed to make web application development faster by removing bottlenecks to data access for frontend and full-stack developers. It cuts down the time and niche expertise required to build GraphQL APIs for data access by automating the repetitive work involved in mapping models to APIs with common access patterns like pagination, joining, filtering, setting up authorization rules, and optimizing performance.

The company claims that it has been downloaded over 400 million times and has earned over 25,000 GitHub stars since its inception. Hasura’s customer base includes Swiggy, Airbus, Walmart, BBVA, Pipe, Netlify, and Atlassian.