Merge, a San Francisco, CA-based Unified API for B2B integrations, closed $55 million in Series B funding round led by Accel, with participation from existing investors NEA and Addition. This brings the company's total funding to $75 million.
The funds will be used to expand its team from 60 to over 100 people next year, investing in both R&D and GTM teams.
Merge's annual recurring revenue has increased by a factor of twenty-six in the year since the Series A fundraise, as SaaS companies expand their use of Merge's Unified API.
"Our growth over the past year shows how much of a need there is in the market for Unified APIs that make building product integrations easier," said Merge co-founder Shensi Ding. "We're really excited that now, with our Free plan, startups can offer their first integrations no matter what size or scale they are."
The expanded Free plan allows companies to offer integrations to their first five customers and then transitions to a flat monthly cost for the next fifteen. This plan will create new opportunities for startups to more quickly achieve product-market fit and to rapidly expand their addressable market.
Over 3,000 companies use Merge to add integrations to their SaaS apps. Merge powers integrations for customers such as TripActions, Ramp, Drata, AngelList, Ripplematch, and Apollo.
Company: Merge API Inc.
Raised: $55.0M
Round: Series B
Funding Month: October 2022
Lead Investors: Accel
Additional Investors: NEA and Addition
Company Website: https://merge.dev/
Software Category: Unified API for B2B integrations
About the Company: Founded in 2020 by Shensi Ding and Gil Feig, Merge provides the tools to transform how B2B companies realize customer-facing integrations. With Merge's Unified API, developers integrate just once and give their customers access to over 150 HR Information Systems (HRIS), Applicant Tracking Systems (ATS), Accounting, Ticketing, and CRM integrations. Merge takes charge of the entire lifecycle of integrations and adds new platforms every week. These customers use Merge for a wide variety of integration use cases, from pulling HR data to onboard customer accounts, to programmatically creating new hiring candidate workflows, posting accounting transactions, and updating tickets that track a project's progress. Merge earned recognition as a Forbes Cloud 100 Rising Stars in August and Business Insider Top Up-and-Coming Fintechs in September. It was built in San Francisco and New York City.
Source: https://www.prnewswire.com/news-releases/merge-raises-55m-series-b-from-accel-launches-new-free-tier-for-startups-301657402.html