Israeli startup RapidAPI raises $60m

• Date: 21 April 2021
• Published date: 21 April 2021
• Author: Ofir Dor
• Publication title: Globes (Rishon LeZion, Israel)

The company was founded in 2015 by CEO Iddo Gino when he was 18. RapidAPI has 110 employees including 50 in Israel and plans to double its workforce over the next year.

The investment follows high-growth year in 2021 amidst a pandemic that drove a record number of developers and companies to the RapidAPI platform to advance their digital initiatives and accelerate the delivery of their software and services to the market.

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.

The recent fundraise will be used to support the influx of new developers to the platform, the onboarding of leading API providers to the public marketplace, and the expansion of the API platform, including RapidAPI's Enterprise Hub, to serve the rapidly growing enterprise customer base.

Gino said, "As APIs become the building blocks for digital transformation efforts across all industries, we've seen a fundamental shift toward API platforms and tools like RapidAPI that are built to handle the realities of...