Moesif, a San Francisco-based API analytics startup, has closed a $12 million Series A funding round to continue facilitating API development.
The round was led by David Sacks and Arra Malekzadeh of Craft Ventures, with previous investor Merus Capital also participating. This brings the total funding raised by the startup since being founded back in 2017 to $15.5 million. Arra Malekzadeh, who will be joining Moesif’s board of directors, referred to the round by stating:
“Moesif has great success with product and engineering teams taking its platform for a spin, falling in love with the product, and then deploying it at scale across their organizations. We were impressed to see Moesif quickly spreading from technical to business teams and are excited to support the company through their next chapter of growth.”
The startup’s revenue has increased by more than 20% month-over-month as more users rely on its platform to improve their APIs based on user behavior. Moesif is planning on using the funding to expand its engineering, sales, developer relations, and customer success teams.
Having customers in the financial, healthtech, logistics, and enterprise software industries, Moesif is capitalizing on the increasing use of APIs by developers looking to provide their users with more customization options. Derric Gilling, co-founder & CEO of Moesif, referred to how the funding will impact the startup’s mission by saying:
“The Craft team brings a wealth of knowledge and best practices about bottom-up SaaS companies and their sales motion that will be helpful for us in the years ahead. A top-down, outbound sales process no longer works for today’s savvy buyers who want to evaluate software on their terms. Not only is Moesif’s go-to-market developer-first, but our mission is to also help other product leaders create a better developer-first experience using Moesif. Craft’s unique experience is a natural fit.”
Having partnered with popular API management vendors like Kong, f5 NGINX, Tyk, Amazon API Gateway, Microsoft Azure APIM, and others, the API analytics startup aims to become a major player in the industry by facilitating the improvement of user experience
