Hasura raises USD 100 million in funding round; enters ‘unicorn’ club
Hasura on Tuesday announced that it has secured USD 100 million in funding round led by Greenoaks with participation from existing investors Nexus Venture Partners, Lightspeed Venture Partners and Vertex Ventures.
The round `Series C’ brings the total capital raised by Hasura to USD 136.5 million and the company’s valuation to USD 1 billion, placing it in the ‘unicorn’ league.
A company with a valuation of over a billion US dollar is called unicorn.
Hasura plans to use the funding to accelerate research and development and expand go-to-market activities globally for the company’s `GraphQL Engine’.
Hasura has been downloaded more than 400 million times and has earned more than 25,000 ‘GitHub’ stars since its introduction in 2018, it said in a statement.
It is designed to make web application development faster by eliminating bottlenecks to data access for frontend and fullstack developers.
Hasura’s range of data access solutions helps organisations speed up product delivery by instantly connecting data and services to applications with GraphQL APIs.
‘GraphQL’ is an open-source data query and manipulation language for APIs.