Hasura Becomes 10th Startup Unicorn in 2022 After Raising $100 Million

Hasura, a software company aiming to help developers with tools, recently raised $100 million in a fresh funding round. This was led by Greenoaks Capital. Even the existing investors Nexus Venture Partners, Lightspeed Venture Partners and Vertex Ventures participated in  this round.

Hasura is an open-source platform designed to offer a host of solutions made to make web application development faster. It enables easy data access by instantly composing a ‘GraphQL API’ (application programming interface) backed by databases and services so that the developer team (or API consumers) can improve their productivity and make improved iterations. Its solution has been downloaded more than 400 million times per company sources.

Hasura is valued at $1 billion with the latest fundraise. This has made a huge success, making it the tenth startup to enter India’s unicorn club this year. It joins edtech firm Lead School, direct-to-consumer brand Mamaearth,  social commerce platform Dealshare, analytics platform Fractal, and HR tech player Darwinbox.

Based in San Francisco and Bengaluru, the company now plans to use the funding to accelerate research and development. They are further focussed on expanding their go-to-market activities globally for its flagship GraphQL Engine. After the latest investment, Hasura’s total equity now stands at $136.5 million.

Hasura’s chief executive officer, Tanmai Gopal, said, “This funding enables Hasura to greatly increase our innovation velocity, which in turn allows our rapidly-expanding user base to deliver software even faster. With this funding round, our investors and the Hasura team are doubling down on our vision to solve data access and unlock the next decade of developer productivity. We’re going to be addressing the needs of our users by adding support for their favourite data systems much faster.”

In September 202, the company had raised $25 million, led by Lightspeed Venture Partners, with participation from existing investors Vertex Ventures US, Strive VC, Nexus Venture Partners,and SAP.iO Fund.