To Help Firms Customize API Docs, ReadMe Raises $9M In Series A
Software APIs help various tools to communicate with one another. It also allows developers to access important services without having to code it by themselves. This makes APIs critical elements for driving a platform-driven strategy.
Even then, they still require solid documentation to help make the best use of them.
ReadMe Is Here To Help
ReadMe, is a startup which helps companies to modify their API documentation. They just announced that they raised $9 million Series A today which is led by Accel with additional help from the Y Combinator.
ReadMe was founded in 2014. Since than it has 22 employees in their San Francisco office, a number that will expand with today’s funding. The company earlier was part of the Y Combinator Winter 2015 cohort.
Prior to today’s funding announcement, ReadMe had taken a $1.2 million seed round in the year 2014.
As of today, it has 3,000 paying consumers has been profitable since its inception, which is an unusual position for a startup.
Why Did ReadMe Need The Funding?
Despite this success, the company co-founder and CEO Gregory Koberger said that as the company has bagged on larger customers, they still have more high-level requirements, and that’s what urged them to take this round of funding.
In addition to this, it has upgraded the platform which will use a company’s API logs to help develop more vibrant documentation and also enhance customer support.
As it is acquiring data from different companies, it needs to make sure that the data is secure, and the funding happening today will help in that regard.
Koberger explained that they are still going to build this company traditionally by recruiting more engineers, support people, designers, etc., but the main reason for doing this was that they start working with bigger companies which have more secure data.
Accel Takes Lead In This Round
Accel’s Dan Levine, whose company is taking the lead in the investment, thinks that having good documentation is the difference between making or breaking an API.
APIs do not just develop technical integration, they also create ecosystems around the core services and supports corporate partnerships which can generate billions of dollars.
Levine said, ReadMe is as much a plan as it is a service for businesses.
It provides innovative, neat, data-driven API documentation which makes the developers love working with you, which can be the difference between 100 or 1,000 partnerships.
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