Moesif, which provides product insights into how customers use their APIs and tooling to build better developer experiences, has announced a $12 million Series A led by David Sacks and Arra Malekzadeh of Craft Ventures, the latter of whom will join Moesif's board. Previous investor, Merus Capital, also participated in the round, bringing the San Francisco-based startup's total raise to $15.5 million. Moesif's "bottom-up" virality within organizations has led to Moesif's revenue growing over 20% MoM throughout 2021 as customers rely on Moesif for critical insights into user behavior. With the new funding, Moesif plans to hire across engineering, sales, developer relations, and customer success.
Moesif's customers span financial, healthtech, logistics and enterprise software (all heavy adopters of API-first strategies) and include both fast-growing startups like Tomorrow.io and Symbl.ai as well as large enterprises like Deloitte and UPS. Using Moesif, product owners can measure complex activation funnels (like the time that it took for developers to sign up and make their first API call) or proactively reach out when a customer is struggling with the API.
"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," said Derric Gilling, co-founder/CEO of Moesif. "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."
"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," said Arra Malekzadeh, the Craft investor who led the investment. "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."
Moesif firmly believes in helping companies deliver better API products and opened its platform to 3rd party developers to build custom API reports and workflows to support API users better. Moesif was founded in 2017 by Derric Gilling and Xing Wang, both engineers who enjoy hard problems. Derric previously was a L2$ architect at Intel for the Xeon Phi project and Xing was an Executive Producer at Zynga. The company is partnered with popular API management vendors providing plugins for Kong, f5 NGINX, Tyk, Amazon API Gateway, Microsoft Azure APIM, among others, which enables developers to deploy Moesif to production in a matter of minutes. The company is based in San Francisco and previously raised a $3.5m seed round from Merus Capital, Heavybit, Fresco Capital, Zach Coelius, and Gokul Rajaram. For more information, go to moesif.com
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