Software April 21, 2021
The Next Generation API Platform: Our Investment in RapidAPI
APIs are the foundation of modern software development, enabling two pieces of software to communicate with each other. Developers use APIs to quickly add new functionality to their applications and speed up development, making them a widely applicable tool across an increasing number of use cases.
As companies have embraced digital transformation, the strategic importance of APIs has skyrocketed. 85% of industry professionals believe that APIs will play a significant role in their ongoing digital transformation efforts. Developers also have access to more than eight times as many public APIs as they did ten years ago, and as rapidly as businesses have adopted public APIs, they’ve looked to create their own APIs even faster. At least 75% of developers spent time building APIs for either internal or external use last year, fueled by the continued rise of the API economy, microservices, and SaaS integrations. Amidst this rapid change, today’s developers need a new set of tools to improve how they consume and create APIs.
RapidAPI has built a marketplace that enables millions of developers to discover, test, and connect to thousands of APIs so they can build applications faster. With RapidAPI, developers and their teams can also manage all their APIs via a single account and API key, making it easy to handle billing and consumption at scale.
As RapidAPI has grown its marketplace, the company has innovated on how APIs are documented, published, and governed. These same features are essential for teams and enterprises who want to share the APIs they build internally, publicly, or with specific partners and customers, making RapidAPI an even more critical part of a company’s technology stack. RapidAPI also recently acquired Paw to expand its API design capabilities and launched RapidAPI testing, all in an effort to ensure it could support its customers with best-in-class functionality across every aspect of the API management lifecycle.
Stripes Invests in RapidAPI’s $60M Series C Financing
At Stripes, we believe an exceptional product is the universal foundation for building a great software business. As evidenced by its overwhelming developer love and impressive list of enterprise customers, we believe RapidAPI has created an essential platform for any company serious about incorporating API consumption/development into its technology strategy. RapidAPI’s position as the world’s largest API marketplace has enabled it to create a new standard for how APIs are designed, tested, monitored, and shared, making RapidAPI the natural solution to power modern API development both within and across companies.
With that in mind, we’re thrilled to partner with CEO Iddo Gino and the entire RapidAPI team. We first met Iddo in early 2020, and since then, we’ve been incredibly impressed by his tenacity, product-focused mindset, and vision for the opportunity ahead. As with our other developer-focused investments, Snyk in security and Cypress in testing, we believe Iddo and RapidAPI have the potential to build a category-defining company.
We’re honored to welcome RapidAPI to the Stripes family, and we look forward to partnering together on the journey ahead!
WITH MILLIONS OF DEVELOPERS CONNECTING TO THOUSANDS OF APIS, RAPIDAPI IS THE WORLD’S LARGEST API MARKETPLACE