A recent Forbes report sums up what Hasura does: It is sort of a matchmaker between developers, people building apps, for example, and the data they need. It provides this matchmaker for developers to tap disparate sources of data more efficiently, by reducing round trips to the source of the data. Hasura was born to make it easier for developers to access data after shutting down the previous consulting company ‘34 Cross’ which required a huge chunk of time and money to build tools and validate ideas to help the developers.
As an open-source SaaS company, Hasura recently closed its third funding round of $100 million, taking its valuation to $1 billion.
Rajoshi Ghosh, Co-founder and COO at Hasura, in the Open Source Underdogs’s podcast, spoke about how Hasura is different from others: “At Hasura, we kind of came at this problem from the data access angle. We were trying to solve the data access problem, and back in our consulting days we built our own version of GraphQL called Urql, and we had that whole thing going. And every time we would talk to people about what we were building – and this was around the time GraphQL was getting popular – people would tell us, “Hey, this sounds awful like GraphQL, why don’t you add support for GraphQL?”
“I wanted to do something that had more immediate impact,” Ghosh recalls.
The co-founder Tanmai Gopal believed the amount of online data is exploding uncontrollably, yet businesses want necessary insights from the same. But the problem lay in security, compliance, storage, and delivery. Hasura simply makes it easy for them to access data from various sources. Neil Shah, partner at Greenoaks, the Series C investor, says, “Managed GraphQL servers completely change how developers access data and are building applications fast.”
As far as the company’s funding history is concerned, Hasura raised $9.9 million in its Series A round and $25 million in Series B round in April 2020 and September 2020 from Nexus Venture Partners, Lightspeed Venture Partners, and Vertex Ventures. The third round has been raised from Greenoaks along with the participation of these previous investors. The total funding now equals 136.5$ million.