San Francisco and Bengaluru headquartered startup Hasura, which is based on developer focused tooling products has announced on 9th September, 2020, that it has secured USD 25 million in series B funding round. The round was led by Lightspeed Venture Partners.
The round was led by Lightspeed Venture Partners. Existing investors including Nexus Venture Partners, Vertex Ventures, SAP.iObFund and Strive VC also participated in the round. This current capital inclusion brings the total funding raised by Hasura to USD 36.5 million.
The company claims to use the latest investment to accelerate its recruitment process and invest in open source & commercial product development.
Partner at Lightspeed Venture Partners, Gaurav Gupta, explained, “We are very impressed by how developers have taken to Hasura and embraced the GraphQL approach to building applications. Particularly for front-end developers using technologies like React, Hasura makes it easy to connect applications to existing databases where all the data is without compromising on security and performance. Hasura provides a lovely bridge for re-platforming applications to cloud-native approaches, so we see this approach being embraced by enterprise developers as well as front-end developers more and more.”
About the company
Incorporated in the year 2017 by Rajoshi Ghosh and Gopal, company follows SaaS (Software as a Service) business model. The start-up has secured around USD 10 million in Series A till February this year.
Hasura has also announced that they have added GraphQL support for MySQL and early access support for SQL Server to their current support for Postgre SQL.
Mr Gupta in return will join the Hasura’s board as a part of this deal. He has previously worked with infrastructure and open-source companies such as Grafana, Splunk and Elastic.
Other SaaS startups
Other SaaS based Indian origin tech startups also have raised funds this year despite the pandemic. In June, Postman raised USD 150 million in series C funding round led by Insight Partners which is a global Venture Capital and Private Equity Firm. The startup claims their latest funding had taken the valuation of the company to USD 2 billion.
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