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Hasura snags $100 mn in Series C funding at unicorn valuation

By Joseph Rai

  • 22 Feb 2022
Credit: 123RF.com

Hasura Inc., which operates a developer-focussed tooling products startup, on Tuesday said it has raised $100 million as part of its Series C funding round at a valuation of $1 billion led by Greenoaks.

This funding round has turned the San Francisco- and Bengaluru-based startup into a unicorn, or a private company with a valuation of at least $1 billion.

Existing investors Nexus Venture Partners, Lightspeed Venture Partners and Vertex Ventures also participated in this funding round, said Hasura in a statement.

Hasura will use the fresh capital to ramp up its research and development and expand go-to-market activities globally for the company’s GraphQL Engine, it added. The GraphQL Engine makes it fast and easy for even those with zero GraphQL expertise to compose a GraphQL API (application programming interface) from existing APIs and databases, it explained.

Neil Shah, partner at Greenoaks noted that since the launch of Hasura's GraphQL engine in 2018, Hasura has witnessed explosive uptake across countless organizations, from grassroots open-source projects, to some of the largest companies in the world.

"Now, Hasura Cloud has taken this a step further, truly democratizing GraphQL, and letting anyone access their data with speed and simplicity. We are thrilled to partner with Hasura as they become a core primitive for building cloud-native applications," added Shah.

Hasura was founded by Tanmai Gopal and Rajoshi Ghosh in 2017.

Prior to this funding, Hasura raised $25 million (Rs 184 crore) in a Series B funding round led by Lightspeed Venture Partners and participation from existing investors in September 2020. It raised $9.9 million in its Series A funding round led by Vertex Ventures US in February 2020. Hasura raised $1.5 million (around Rs 10 crore) from Nexus Venture Partners and GREE Venture in October 2017.

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