Lunar.dev raises $6M to help organizations control and optimize the APIs they use

The API Consumption Management solution enables organizations to benefit from the power of third-party APIs while mitigating runaway costs, performance and scalability issues

TEL AVIV, Israel, Nov. 9, 2023 /PRNewswire/ -- Lunar.dev, the first-ever API Consumption Management solution, announced today the launch of its open-source platform, along with $6 million in Seed funding. The round was led by Uncork Capital with the participation of existing investor Angular Ventures. The funds will be used to expand the open-source platform and build out the company's commercial SaaS offering, which will launch early next year.

API use is ubiquitous in modern software development, with Gartner researchers finding a 94% adoption rate of third-party APIs among organizations. Service providers like OpenAI, Twilio, and Stripe enable developers to add powerful capabilities to their applications — like Generative AI, SMS verification, or payments — with just a few lines of code.

"APIs are the backbone of modern software — but they're also its Achilles heel," said Eyal Solomon, co-founder and CEO of Lunar.dev. "Increasingly, APIs are powering mission-critical capabilities and they're now a growing origin of costs. However, there's no good way for organizations to maintain visibility and control over all of the APIs they use. Too often organizations only discover that there's an issue once they've been saddled with an enormous invoice at the end of a billing cycle, or find themselves in the midst of a production outage, scrambling to locate the developer who can apply a code fix."

Lunar.dev created the first API consumption management solution, providing organizations with complete oversight and control over their API usage. The open-source solution can be set up in a matter of minutes, providing a holistic view of all APIs that are in use, along with metrics for each one of them, making it easy to identify performance bottlenecks, production issues, or unexpected costs. Real-time mitigations — like API quota management, unified throttling policies, or caching — can be implemented in production with no code changes required.

"Software development is undergoing a massive transformation," said Roy Gabbay, co-founder and CTO of Lunar.dev. "In the era of Generative AI, APIs have evolved from playing a supporting role to now being at the very core of software applications. Just like the cloud revolution unlocked tremendous value along with new challenges — resulting in new tools that address cloud observability, costs, and security — the shift to API-centric software is bringing immense value and is here to stay, along with the challenges it brings. Lunar.dev is dedicated to addressing these challenges, empowering organizations to harness the full potential of APIs."

"We're strong believers in empowering software teams to focus on creating their own magic. We advocate using best-in-class infrastructure tooling to take care of the common infrastructure that every company has to build. Lunar is our latest investment along that theme and we're excited for their platform to become the de facto way software teams manage the large and growing number of 3rd party APIs they consume," said Andy McLoughlin, Managing Partner at Uncork Capital

About Lunar
Lunar's mission is to enable engineers to control 3rd party API consumption in production environments. Lunar, co-exists with your infrastructure and shines a light on 3rd party API issues, like latency, breaking changes, and high costs, and enables enforcement of 3rd party policies for real-time fixes. The company, which was founded in 2022 by Eyal Solomon and Roy Gabbay, is backed by Uncork Capital and Angular Ventures.

SOURCE Lunar.dev