Read the pitch deck Nylas used to raise a $120 million Series C to help companies ‘save thousands of hours’ when developing products
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- Startup Nylas raised a $120 million Series C led by Tiger Global Management.
- It helps developers integrate productivity services into their apps with just a few lines of code.
- The company plans to use this funding to invest in automation technology and talent.
Eight-year-old startup Nylas just raised fresh funding to make it easier for developers to integrate their products with other tools.
The San Francisco-based firm announced a $120 million Series C on Thursday led by Tiger Global Management with participation from existing investors Citi Ventures and Slack Fund, as well as new investors including Blue Owl Capital, and individual contributions from Stripe cofounders Patrick and John Collison.
This latest round brings Nylas’ total funding raised to $175 million. PitchBook lists Nylas’ valuation as $75 million and while the company declined to share its valuation, cofounder and CEO Gleb Polyakov said it’s “quite a good deal more” than that figure.
Developers can use Nylas’s platform to easily integrate email, scheduling, and work automation features from other major platforms into their tools using applications programming interfaces (or APIs). With just a few lines of code, developers can connect their applications to service providers like Gmail, Outlook, and Microsoft Exchange in a way that allows users to not just receive information, but actively edit it (like deleting emails, say).
“Sending and receiving communications data is easy — processing and structuring that data and making it easier to connect and build integrations with other systems with just a few lines of code is the hard thing,” cofounder and CEO Gleb Polyakov told Insider. “We’ve helped companies save thousands of hours and numerous months on development time.”
The firm plans to use its new funding to continue creating new tools for developers, investing in artificial intelligence and machine learning, and scaling its team to support the 700 companies and 60,000 developers currently using Nylas.
The round comes amid a growing focus on the “API economy,” in which businesses leverage APIs established by third parties rather than spending internal resources creating their own infrastructure from scratch.
“We are seeing that more traditional, non-technical, and highly regulated industries are increasingly coming around, and recognizing the power of APIs and work automation,” Polyakov said.