Vertex leads $10m round for Indian data services firm
Hasura, a software-as-a-service firm that helps companies improve the data delivery process, has raised $9.9 million in a Series A round led by Vertex Ventures.
SAP.iO Fund, the early-stage venture unit of the enterprise software giant SAP, Nexus Venture Partners, Strive Venture Capital, and several angel investors also contributed.
Founded in 2017, Hasura, is a US and India-headquartered software firm that makes it easier for front-end developers to customize how their products access data from servers. It uses GraphQL, an open-sourced data querying language developed by Facebook.
GraphQL improves efficiency in the data delivery process by avoiding the use of multiple queries to fetch different types of data, which increases loading time. For example, a web page listing search results for authors might only need to display author names and a list of books but extended book descriptions might be needed on a bibliography page. Queries using GraphQL can retrieve different types of data in a single process.
Other companies including Netflix have developed similar programing languages, but GraphQL has come to be seen as the industry standard due to widespread usage. Front-end developers for web applications with a responsive user interface such as fast-loading websites and developers of mobile applications are the main customer groups.
“We invested because of the incredible velocity of their product engineering, the tremendous community the founders built in such short order, and the pull from enterprises who want to empower their engineers to move with FAANG-like [Facebook, Amazon, Apple, Netflix and Google] agility while supporting ops teams with performance management, security, and data access,” said Sandeep Bhadra, a partner at Vertex, in a statement.
Hasura says its solution has been downloaded more than 28 million times. It offers free and commercial versions of the software. It plans to use the fresh capital to invest in engineering and product development, as well as hire sales and marketing professionals.
Hasura's competitors also offering GraphQL-based querying solutions include Postgraphile, Prisma, Gatsby, Apollo and Dgraph. Many developers continue to use application programing interfaces (APIs) based on representational state transfer (REST), the current standard for communication between a web application and a server.
Vertex is a Singapore-based affiliate of Temasek Holdings primarily investing in early-stage technology and healthcare. It has funds targeting Israel, Southeast Asia and India, and the US. Hasura received investment from the VC's US-domiciled fund.
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