Hasura Raises $ 25 Million Series B, Adds MySQL Support to Its GraphQL Service – TechCrunch
Hasura, a service that provides developers with an open source engine that provides them with a GraphQL API to access their databases, today announced that it has raised a $ 25 million Series B round of funding led by Lightspeed Venture Partners. . Previous investors Vertex Ventures US, Nexus Venture Partners, Strive VC and SAP.iO Fund also participated in this round.
The new round, which the team lifted after the start of the COVID-19 pandemic, comes just six months after the company announced its $ 9.9 million Series A round. In total, Hasura has now raised $ 36.5 million.
“We have seen rapid business growth in 2020. We wanted to accelerate our efforts by investing in the Hasura community and our recently launched cloud product and to ensure the success of our corporate clients. Given the interest in venture capital, a fundraiser made sense to help us step on the accelerator and give us the opportunity to grow comfortably, ”Tanmai Gopal, co-founder told me. and CEO of Hasura.
In addition to the new funding, Hasura also announced today that it has added support for MySQL databases. Until now, the company’s service has only worked with PostgreSQL databases.
As Tanmai Gopal, CEO and co-founder of the company, told me, MySQL support has long been at the top of the features most requested by users of the service. Many of these users – who are often in the healthcare and financial services industry – also work with legacy systems that they try to hook up to modern applications, and MySQL plays an important role there, given its age.
In addition to adding support for MySQL, Hasura is also adding support for SQL Server to its lineup, but for now, this is early access.
“For MySQL and SQL Server, we’ve seen strong demand from our healthcare and financial / fintech users,” said Gopal. “They have a lot of existing online data, especially in these two databases, that they want to activate to create new capacity and use it while modernizing their applications.
Today’s announcement also comes just months after the company launched a fully managed cloud service for its service, which complements its existing paid Pro service for businesses.
“We are very impressed with the way developers have embraced Hasura and adopted the GraphQL approach to building applications,” said Gaurav Gupta, Partner at Lightspeed Venture Partners and Member of the Hasura Board of Directors. “Especially for front-end developers using technologies like React, Hasura makes it easy to connect applications to existing databases where all data resides without compromising security and performance. Hasura provides a charming gateway for application re-platforming to cloud native approaches, so we see this approach being adopted more and more by enterprise developers as well as front-end developers.
The company plans to use the new funding to support more databases and to address some of the more difficult technical challenges associated with cross-database joins and the application-level data caching system. the society. “We are also investing deeply in starting a business so that we can develop our GTM and our engineering in tandem and recruit senior executives in these functions,” said Gopal.