Series A Announcement
I’m excited to announce that Paragon has raised $13M in Series A financing, led by Inspired Capital, with participation from previous investors FundersClub, Garuda Ventures, and Jude Gomila.
Nearly three years ago, Ishmael Samuel and I sought to solve a never-ending problem we experienced firsthand as software developers. When building my previous company, Polymail, my team and I spent months becoming experts in vendor-specific authentication methods, APIs, and documentation for every integration we built. And every time we went through the process, it felt like we were reinventing the wheel. Regardless, our customers kept asking for more integrations. It was impossible to keep up, let alone maintain all the integrations we built.
We later realized that every SaaS company faces the same challenge. In the past five years, the software ecosystem has grown by nearly 10x, and the average organization uses hundreds of SaaS applications. So, for ‘future work’ to work, software products cannot exist in a silo—they must integrate seamlessly with other apps customers use. Integrations have the power to turn a product into a platform and to provide an incredible experience that fits seamlessly with users’ existing workflows.
At Paragon, we believe in providing a simple, productized solution that abstracts the complexities of SaaS integrations into a single SDK that could be natively embedded in any product and provides a seamless user experience while allowing developers to build deep integrations for production use cases. Our vision was to do for SaaS integrations what Plaid had done for banking integrations.
Since our launch in 2021, we have worked with nearly 100 customers, and Paragon now supports over 45 integrations, with more being added monthly. And we have seen some incredible wins along the way, like helping customers ship the integrations that unlocked crucial sales opportunities while reducing the average integration development time by 70%. While I’m proud of what our team has accomplished so far, I’m even more excited about the learnings that will shape our next chapter of growth.
With the funding from our Series A, we’ll continue to invest in making Paragon the best solution for developers building product integrations. We aim to provide the most powerful, flexible developer experience through our SDK and APIs, and we're working on some exciting updates that we look forward to announcing soon. Follow us on LinkedIn and Twitter, and subscribe to our monthly newsletter here, so you don’t miss it.
Additionally, we’re investing in expanding our integration catalog rapidly to support the needs of our growing customer base. And we’ll continue to invest in supporting our customers and being strategic partners to help each of them achieve a scalable integration strategy.
As the software ecosystem grows, we envision Paragon as the connective layer for all software. Just as Plaid has made it virtually inconceivable for any company to build their banking integrations, we believe no company will ever have to develop or maintain their own SaaS integrations again because of Paragon.
Thank you to our fantastic team, whose hard work has made Paragon successful. And thank you to our wonderful customers for believing in our vision and letting us be a part of yours. Our Series A funding is an exciting milestone, but it’s just the beginning.
If you’re interested in joining us in building the future of software, we’re hiring for positions across engineering and sales. Check out our available jobs here, or feel free to reach out to chat about joining our team!
Sincerely,
Brandon Foo
CEO, Paragon
