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StdLib Secures $2M in Strategic Financing from Stripe, Finalizing a $4M Seed Round From Multiple Investors
Polybit Inc., the company behind the Standard Library of the Internet (StdLib) has secured an additional $2 million in strategic financing from Stripe, bringing Polybit’s total funding to date to $4 million.
StdLib announced the $2M strategic funding round from Stripe in a blog post that went live earlier this morning [1]. The announcement comes with a new product offering, Code.xyz [2], an online code editor that allows anybody to create a serverless API in a single click.
“We want to give developers and organizations the ability to build, publish and integrate with enterprise-grade APIs with the same ease-of-use they create and share documents or spreadsheets,” said Keith Horwood, founder and CEO of StdLib. “Our serverless platform provides a scalable compute (hosting) layer with automatically generated documentation, authentication, billing, and other services, enabling anybody to turn simple JavaScript functions into production-ready APIs in seconds.”
While large players in the serverless space, like Amazon Web Services’ Lambda, focus on operational cost-savings associated with per-millisecond billing, StdLib is focused on using serverless technologies and the commoditization of compute to standardize the way in which companies build APIs. StdLib aims to make API development more accessible while encouraging a more seamless API partnership model and fueling ecosystem growth. The company’s $2M investment from Stripe follows a major investment from Slack [3] and API partnership with MessageBird [4], the YC-backed Twilio-competitor that raised a record-breaking $60M Series A just last year.
The investments will further fuel StdLib’s product and API ecosystem development. Stripe’s mission, to grow the GDP of the internet by enabling new business models and lowering the barriers to entrepreneurship, parallels StdLib’s goals to remove the barriers-to-entry to both software development and API integration as a means to propel businesses forward.
Introducing Code.xyz: One Click APIs
StdLib’s funding announcement coincides with the release of a new product, Code.xyz, an in-browser code editor and embeddable development environment for easily building APIs, webhooks, and workflow automation tasks that run on top of the StdLib serverless platform.
“What’s really missing in the API space is a simple, one-tool solution for developers, product managers, and really, anybody in an organization to easily build, host and collaborate around API development. APIs run our businesses and we need better tools to manipulate them that work for everybody — not just veteran developers,” Keith said.
The goal of Code.xyz is to provide a “Google Docs”-like experience for API development and publishing, available to anybody from their web browser. Using Code.xyz significantly reduces repetitive API development work for professional engineers and provides less technical knowledge workers greater access to writing software and utilizing enterprise-quality integrations. Now you can quickly design and build APIs with complete documentation, share these API design specs and more with a single click.
Developers and organizations get a few other benefits of working with Code.xyz and StdLib:
Never worry about endpoint scaling: the StdLib cloud auto-scales
Manage and share API templates (sources) within your organization
Provide customers the ability to write custom logic in response to webhooks
Onboard developers to your APIs with shippable, production-ready examples
“Our team is excited to make APIs more accessible and easier to build for everyone,” said Keith, “and we’re very thankful and humbled to have Stripe’s and others’ support as we grow.”
[1] https://stdlib.com/blog/stripe-code-xyz
[3] https://slackhq.com/introducing-7-new-slack-fund-companies-4b1ab9fd7a8a
