Hasura Joins the Unicorn Ranks with $100 Million Series C Round
Hasura has achieved unicorn status with a substantial $100 million raised in its Series C funding round. This investment, led by Greenoaks Capital, also saw participation from Lightspeed’s growth arm, Vertex Ventures, Nexus Venture Partners, and Strive.
With this new funding, Hasura is now valued at $1 billion. The company plans to use the capital to accelerate R&D, expand its operations, and boost its global presence. This includes scaling its open-source project, enhancing its managed cloud service, and addressing evolving data access needs.
Hasura aims to advance its product by increasing momentum, driving innovation, and prioritizing continuous releases. It will focus on onboarding large enterprises and developing exciting new features like Hasura Cloud Edge, which emphasizes caching and security, and a more accessible MOAR database for non-Haskell users.
Founded in 2017 by Tanmai Gopal and Rajoshi Ghosh, Hasura provides a GraphQL engine that simplifies data access and integration. The company has experienced significant growth, with a 4x increase in its open-source project and a 10x boost in its managed cloud service.
Hasura’s total funding now stands at $136.5 million. The company will allocate a portion of this investment to its Indian branch, strengthening local engineering and product teams. It is also expanding its hiring efforts to support mission-critical applications in various sectors, including data-driven journalism, telehealth, electric vehicles, modern manufacturing, and space technology.
Tanmai Gopal, CEO of Hasura, expressed enthusiasm about the funding, stating, “With this round, our investors and the Hasura team are committed to solving data access challenges and enhancing developer productivity. We’ll be adding support for a wider range of data systems much faster.”
Neil Shah of Greenoaks Capital noted Hasura’s impressive growth since launching its GraphQL engine in 2018, emphasizing its role in improving developer productivity and accelerating time-to-market for critical applications.
About Hasura
Hasura, founded in Bangalore and San Francisco, offers solutions that streamline web app development by instantly creating a GraphQL API backed by databases and services. This approach simplifies integration and iteration, addressing key challenges in data and event delivery within cloud frameworks.
The Hasura GraphQL Engine provides real-time, high-performance GraphQL on any Postgres application and includes an event trigger system for building serverless apps. With over 400 million downloads, Hasura has seen explosive adoption, making it a significant player in the developer ecosystem.
