Apollo raises $130M in Series D at $1.5B valuation from Insight Partners, others
At a Glance
Apollo has raised $130M in a Series D funding round led by Insight Partners and others to scale its team, expand the Apollo Federation to different languages and build open-source software for the entire GraphQL community
Apollo, a builder of open source tools to integrate GraphQL across all applications and services, has raised $130 million at a valuation of $1.5 billion in a Series D funding round led by Insight Partners to power the future of graph and application development, a press release from Apollo said.
The Series C funding for Apollo came in June 2019, where it netted $22 million. With the close of Series D, the total amount raised by the company has crossed $180 million, as per Crunchbase. Existing and additional investors – Andreessen Horowitz, Matrix Partners, Trinity Ventures, Next47 and Hatim Shafique, chief customer officer at DataBricks – participated in the funding round.
Apollo, founded in 2016, is the pioneer in open source and commercial GraphQL Application Program Interface (API) technologies. It helps engineering teams build unified graphs to accelerate application development. The company leverages its GraphQL and introduces Graph as an essential layer in the tech stack in an organization’s services, empowering developers to deliver better experiences.
Geoff Schmidt, co-founder and CEO of Apollo GraphQ, stated that the Graph is a developer-driven movement that changes the way companies build their software and added that Apollo is leading in supporting application developers, the primary value creators in software building.
Every company will need a graph strategy to keep pace in the digital era the same way they need a cloud strategy. This round is a win for all application developers, who can expect increased support for our open source community, as well as our forward-looking customersGeoff Schmidt, co-founder and CEO of Apollo GraphQ
In an official blog announcing the funding, Geoff stated that the new round of funding brought it new opportunities to support its community and customers. The company would focus on building open-source software for the GraphQL community, expand the Apollo Federation to more languages and scale its team.
We’re committed to advancing the graph with open-source software, as well as being responsible stewards of the resources we have to help developersGeoff Schmidt, co-founder and CEO of Apollo GraphQ
Lonne Jaffe, managing director at Insight Partners, stated that under Apollo’s leadership, the Graph holds the potential to reshape the world economy as a universal aggregator.
Estimates are that there are already millions of GraphQL developers, and the number has been growing exponentially. Embracing the Graph is one of those key technology strategy decisions that will have huge implications for a company’s future competitiveness, like adopting the public cloud or leveraging data to make predictionsLonne Jaffe, managing director at Insight Partners