API platform RapidAPI raises $150m at $1b valuation
Summary
Israeli API platform RapidAPI has announced the completion of a $150 million Series D financing round at a company valuation of $1 billion. Driven by the explosion of APIs, federation of API programs, acceleration of cloud initiatives, and the push to microservices, companies have turned to RapidAPI to modernize their infrastructure in order to remain competitive in today’s environment of digital disruption. RapidAPI founder and CEO Iddo Gino said, "The pandemic and the rapid change it has precipitated over the last two years has compelled almost every company to become a digital player very quickly. This has created a huge demand and subsequent shortage of developers, hindering an organization’s ability to fully invest in digital transformation initiatives. As a result, companies are turning to APIs and tools like RapidAPI to realize the productivity and innovation benefits of digitizing their organization."
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