Summer is here! Although much of the world remains behind closed doors, we are celebrating warmer weather and sunnier days. What is also hot right now? API startups!
So pour yourself a cool drink, soak in the sun, and pull out your favorite device to read this month’s top API stories. Here in our monthly API news roundup – June 2020 edition.
API startups are so hot right now
A cluster of related companies recently caught our eye by raising capital in rapid-fire fashion. TechCrunch covered a few of them, and I read coverage of others. Looking back through my notes and the media cycles that they generated, it feels safe to say that API -based startups are hot right now.
Postman, a collaborative platform where developers can build, test, and iterate their application programming interfaces (APIs), has raised $150 million in a series C round of funding led by Insight Partners. This takes the San Francisco-based company’s total funding to more than $200 million and gives it a valuation of $2 billion. (This is the first time Postman has ever revealed a valuation.)
RapidAPI raises $25M more to expand its API marketplace
RapidAPI, the world’s largest API Marketplace where developers find and connect to thousands of APIs, announced today that it has raised an additional $25 million for its Series B round. The financing was led by insider investors including Andreessen Horowitz, DNS Capital, Green Bay Ventures, M12, and Grove Ventures, bringing the total amount raised to $62.5 million.
API Management Market to Experience Significant Growth during the Forecast Period 2020-2025
Global API Management Market valued approximately USD 820 million in 2017 is anticipated to grow with a healthy growth rate of more than 34.42% over the forecast period 2018-2025. The global API Management market is continuously growing across the world over the coming years. The major driving factor of the global API Management market is the rising number of mobile subscribers and the growing demand for public and private APIs.
OpenAI releases commercial API for multi-purpose AI
OpenAI is releasing its first commercial product, the company announced Thursday, giving businesses access to its most advanced general-purpose AI models via an API. The API, launching in private beta, is currently in use by customers for a range of applications including semantic search, sentiment analysis, and content moderation.
5 major reasons to adopt an API management platform
The world of APIs is a highly dynamic one, with new functionality added on a regular basis, and old capabilities fading away as required. Unfortunately, it is not easy to capture and respond to all API call types through simple management methods, especially as the number of calls traveling across your software environment increases. Eventually, manual management isn’t possible, and an automated system becomes a requirement.
Italy was one of the first countries to adopt the joint Apple/Google API for its coronavirus contact tracing app, and early signs are that this is helping reassure people. Immuni contact tracing app downloads hit more than 25% of those given access in the first ten days.
Pinwheel is the API platform for income verification that every fintech and neobank needs
A lot of founders start building one idea and in the process, find another one that is more alluring. Perhaps the most well-known example is Tiny Speck, a game publisher of a relatively uninteresting MMORPG where the founders grew sufficiently frustrated with their internal team communications tools that they migrated from game building to designing a chatting app known as Slack.
Thank you for reading our API News roundup – June 2020. We’ll see you next month with more API headlines.
Read last month’s API News Roundup.