$16 million Series B<\/a> in 2018 \u2014 it said it had \u201cthousands of developers\u201d among its users. Now, that number has ballooned to 80,000, with Nylas processing some 1.2 billion API requests each day, working out to 20 terabytes of data, daily. It also said that revenue growth tripled in the last 12 months.<\/p>\nThe Series C is bringing a number of interesting names to Nylas\u2019s cap table. New investor Tiger Global Management is leading the round, with previous backers Citi Ventures, Slack Fund, 8VC and Round13 Capital also participating. Other new backers in this round include Owl Rock Capital, a division of Blue Owl; Stripe co-founders Patrick Collison and John Collison; Klarna CEO Sebastian Siemiatkowski; and Tony Fadell.<\/p>\n
As with other companies in the so-called API economy, the gap and opportunity that Nylas has identified is that there are a lot of productivity tools that largely exist in their own silos \u2014 meaning when a person wants to use them when working in an application, they have to open a separate application to do so. At the same time, building new, say, tools, or building a bridge to integrate an existing application, can be time-consuming and complex.<\/p>\n
Nylas first identified this issue with email. An integration to make it easier to use email and the data housed in it \u2014 which works with emails from major providers like Microsoft and Google, as well as other services built with the IMAP protocol \u2014 in other apps picked up a lot of followers, leading the company to expand into other areas that today include scheduling and calendaring, a neural API to build in tools like sentiment analysis or productivity or workflow automation; and security integrations to streamline the Google OAuth security review process (used for example in an app geared at developers).<\/p>\n
\u201cThe fundamental shift towards digital communications and connectivity has resulted in companies across all industries increasingly leaning on developers to solve critical business challenges and build unique and engaging products and experiences. As a result, APIs have become core to modern software development and digital transformation,\u201d Gleb Polyakov, co-founder and CEO of Nylas, said in statement.<\/p>\n
\u201cThrough our suite of powerful APIs, we\u2019re arming developers with the tools and applications needed to meet customer and market needs faster, create competitive differentiation through powerful and customized user experiences, and generate operational ROI through more productive and intelligently automated processes and development cycles. We\u2019re thrilled to continue advancing our mission to make the world more productive and are honored to have the backing of distinguished investors and entrepreneurs.\u201d<\/p>\n
Indeed, the rise of Nylas and the function it fulfills is part of a bigger shift we\u2019ve seen in businesses overall: as organizations become more digitized and use more cloud-based apps to get work done, developers have emerged as key mechanics to help that machine run. A bigger emphasis on APIs to integrate services together is part of their much-used toolkit, one of the defining reasons for investors backing Nylas today.<\/p>\n
\u201cCompanies are rapidly adopting APIs as a way to automate productivity and find new and innovative ways to support modern work and collaboration,\u201d said John Curtius, a partner at Tiger, in a statement. \u201cThis trend has become critical to creating frictionless and meaningful data-driven communications that power digital transformation. We believe Nylas is uniquely positioned to lead the future of the API economy.\u201d Curtius is joining the board with this round.<\/p>\n
Corrected to note that Blue Owl is not connected to State Farm.<\/em><\/p>\nArticle source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/3zPrqOhbivo\/<\/p>","protected":false},"excerpt":{"rendered":"
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