A $55 million Series B fundraising round, led by Accel and including previous investors NEA and Addition, has been completed, according to Merge, the Unified API for B2B connections.
The company has already received $75M in total investment. Due to the expansion of SaaS firms’ use of Merge’s Unified API during the past 12 months after the Series A fundraising, annual recurring income has increased by a factor of 26.
Merge’s capabilities can revolutionize how B2B businesses implement customer-facing integrations. Due to high development costs, ongoing maintenance requirements, and a lack of prior experience using each API platform, startups frequently struggle to implement these interfaces. For early-stage firms creating their initial integrations, Merge has responded by announcing the expansion of its free Unified API. The enhanced Free plan enables businesses to provide integrations to their first five clients before switching to a fixed monthly fee for the following fifteen. By implementing this strategy, entrepreneurs will have additional options to increase their addressable markets and achieve product-market fit swiftly.
To add connectors to their SaaS apps, more than 3,000 businesses use Merge. For clients including TripActions, Ramp, Drata, AngelList, Ripplematch, and Apollo, Merge powers integrations. These clients utilize Merge for a broad range of integrated use cases, including extracting HR data to enroll client accounts, programming new hiring applicant workflows, publishing accounting records, and updating tickets that track project progress.
Merge has significantly expanded its offering over the past year to assist business customers all across the world:
• Added ticketing and CRM to its ongoing support for HRIS, ATS (recruiting), and Accounting as part of the expansion of its Unified APIs.
• Over 150 integrations have been added to all 5 Unified APIs, surpassing the previous record of 100.
• Expanded the range of integration use cases now feasible by releasing support for updating and pushing data back to API suppliers in addition to reading data.
• In addition to the already-existing SOC 2 Type 2 certification, the company obtained HIPAA and ISO 27001 certifications as it increased its enterprise clientele.
• Expanded into Europe, bringing support for both single-tenant hosting in clouds all around the world and multi-tenant hosting in the EU.
Shensi Ding, co-founder of Merge
We have grown significantly over the past year, demonstrating the market’s need for Unified APIs which facilitate the creation of product integrations. Under our Free plan, startups of any size or scale may now provide their initial integrations, which we are quite happy about.
Daniel Marashlian, co-founder and CTO of Drata
Merge is an essential partner to Drata and acts as a necessary layer across our platform, our clients, and its tech stack. With comprehensive visibility into our customers’ overall security posture, we can support them in reaching and maintaining compliance thanks to Merge’s Unified API connections for HRIS, ATS, and ticketing.