GraphQL developer platform Hasura has secured $100 million in a round led by Greenoaks with participation from existing investors Nexus Venture Partners, Lightspeed Venture Partners and Vertex Ventures.
The Series C round brings the total capital raised by Hasura to $136.5 million and the company’s valuation to $1 billion. It had raised $25 million in its Series B in September 2020. The company has also become one of the few startups to attain unicorn status at Series C stage itself.
Hasura plans to use the fresh funding to accelerate research and development and expand globally for its GraphQL Engine, said the company in a press release.
The Bengaluru and San Francisco-based startup has designed its platform to make web application development faster by eliminating bottlenecks to data access for frontend and full-stack developers. It provides data APIs that are able to connect to multiple services and data sources, embed domain-specific authorization logic, and provide the necessary security and performance.
Hasura claims that it has been downloaded more than 400 million times and has earned more than 25,000 GitHub stars since its introduction in 2018. The company’s customers include Airbus, Atlassian, BBVA, Netlify, Pipe, Swiggy and Walmart.
Founded by Tanmay Gopal and Rajoshi Ghosh, Hasura was open-sourced in July 2018 and since then developers have used Hasura to build their data layer for modern applications.
Hasura has become the 10th startup to enter the coveted unicorn club. Last week, conversational automation platform Uniphore had turned unicorn. The list includes XpressBees, Livspace, ElasticRun, DealShare, Darwinbox, LEAD, Fractal and Mamaearth.