Hasura
Hasura sells an instant GraphQL API layer that sits on top of your database.
On the record
Checkpoint: First independently confirmed enterprise renewal or churn data point for PromptQL against Snowflake or Databricks
The call
Hasura still holds ground inside big enterprise accounts, but its core API product is getting commoditized by AI code-gen while its PromptQL pivot fights Snowflake and Databricks on their own turf.
Hasura sells software that helps companies quickly build tools to talk to their databases. It built a real shield inside banks and big companies by handling security and rules inside their systems, which was hard for rivals to copy. But that old business is shrinking because new AI code-writers (like Cursor) and all-in-one platforms (Supabase, AWS AppSync) do the same job faster and cheaper. The company is betting big on a new product called PromptQL, which uses AI to let anyone query databases by typing questions. The problem: Snowflake and Databricks, who already own relationships with the companies that have the data, are building the same thing and have way more money and customers to sell it to. One thing that could flip the script: if PromptQL wins real customers away from Snowflake and Databricks and sticks around (the company has shifted direction many times, which worries investors).
Why
01
AI pressure: GitHub Copilot, Cursor, and code-gen tools that write CRUD APIs directly. AI code generators now write the boilerplate GraphQL APIs Hasura was built to auto-generate, cutting the reason to buy it. Could AI do the core job? Only partly.
02
Bigger players: Snowflake Cortex Analyst and Databricks Genie. Snowflake and Databricks are building AI data agents inside the warehouse, right where PromptQL is trying to compete, but they already hold the customer's data. Could a giant copy it? Yes, easily.
03
What protects it. Deep metadata and permissions layer wired into bank and Fortune 500 systems is costly to rip out.
What would change this call
Hasura announces a new priced funding round or a markdown/down-round valuation. Shows whether investors still back the business at flat, up, or reduced value after 4+ years without a raise.
Named enterprise customers publicly choose PromptQL over Snowflake Cortex or Databricks Genie (or vice versa). Tests whether PromptQL can win deals against data-platform incumbents that already own the customer data.
Hasura's headcount rises above or falls further below the current ~150-170 range. Indicates whether the company is scaling the new AI pivot or still shrinking under financial strain.
Named enterprise customers publicly choose PromptQL over Snowflake Cortex or Databricks Genie (or vice versa). Tests whether PromptQL can win deals against data-platform incumbents that already own the customer data.
Hasura's headcount rises above or falls further below the current ~150-170 range. Indicates whether the company is scaling the new AI pivot or still shrinking under financial strain.
Key numbers
- $28.9M ARR vs $1B 2022 valuation
- No priced round since Feb 2022's $100M Series C
- Headcount down from ~192 to ~150
Named risks
- No priced funding round since February 2022; tracker flagged 'no recent growth signals' in December 2024.
- Headcount decline from about 192 (Dec 2023) to roughly 150 (Nov 2025) across multiple trackers.
- PromptQL's plan-then-execute edge is a wrapper on Anthropic models in the crowded text-to-SQL/data-agent category.
- Legacy GraphQL API auto-generation core commoditized by AI code-gen tools like Copilot and Cursor.
- Viral 'killed Slack' marketing claim walked back, drawing scrutiny to PromptQL's accuracy claims.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Snowflake (Cortex Analyst) | gaining on | Shipped native AI query agent competing directly with PromptQL's pitch, as of April 2026 |
| Databricks (Genie) | gaining on | Shipped native AI data agent sitting atop enterprise data, as of April 2026 |
| Supabase | gaining on | All-in-one Postgres BaaS eating Hasura's legacy GraphQL wedge, noted December 2025 |
| AWS AppSync | contesting | Managed GraphQL federation alternative competing for same developer workflow |
| Apollo Federation | contesting | Enterprise-grade GraphQL federation incumbent contesting Hasura's core layer |
Questions people ask
- Is Hasura profitable in 2026?
- No profitability figures have been disclosed. Third-party tracker Latka estimated Hasura's ARR at about $28.9M as of December 2023, far below its $1B valuation set in February 2022, with no company-confirmed financials released since.
- Has Hasura raised new funding recently?
- No. Hasura's last publicly reported priced round was a $100M Series C led by Greenoaks Capital in February 2022 at a $1B valuation, bringing total funding to $136.5M. No new round has been reported as of late 2025.
- Is Hasura laying off employees?
- No formal layoff has been confirmed, but headcount trackers show decline: Latka reports about 192 employees in December 2023 falling to roughly 150 by November 2025, suggesting attrition or quiet cuts rather than growth.
- Who is Hasura's biggest competitor?
- For its legacy GraphQL API layer, Supabase and AWS AppSync compete directly; for its newer PromptQL AI data agent, Hasura faces Snowflake's Cortex Analyst and Databricks' Genie, both already shipping native AI query agents as of April 2026.
- Could AI replace what Hasura does?
- Hasura's original wedge, auto-generating boilerplate CRUD/GraphQL APIs, is increasingly replicable by AI code-gen tools like Copilot and Cursor. Hasura's own pivot, PromptQL launched June 2025, competes directly in the AI data-agent category it hoped to lead.
- Who owns Hasura and who founded it?
- Hasura is privately held and venture-backed, founded by CEO Tanmai Gopal and COO Rajoshi Ghosh, who originally started a food-delivery company before pivoting to build the GraphQL engine, per Lightspeed's 2023 investment writeup.
Timeline
- 2026-07-10Hasura's 'PromptQL killed Slack' viral claim challenged; company calls it 'a stretch'
- 2025-09-14Hasura reported selling AI forward-deployed-engineer consulting at $900 per hour
- 2025-06-02PromptQL launched publicly as 'spiritual successor to GraphQL'
- 2025-03-18Hasura DDN introduces active model-based pricing
- 2024-09-09Hasura DDN (Data Delivery Network), rebuilt in Rust, reaches GA
- 2022-02-22Hasura raises $100M Series C led by Greenoaks at $1B valuation
- 2020-09Hasura raises $25M Series B led by Lightspeed Venture Partners
- 2020-02-26Hasura raises $9.9M Series A led by Vertex Ventures US
- 2018-2019Hasura raises approximately $1.6M seed round led by Nexus Venture Partners
Revision history
21 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- $28.9M ARR, $1B Valuation (2025-11-27)
- Does Hasura, Inc. Sponsor H1B & Green Card Visas?
- Hasura Announces $100M in Series C Funding at a $1B Valuation to Make GraphQL Available to Everyone (2022-02-22)
- Why Lightspeed invested in Hasura (2023-06-12)
- Hasura Funding 2026 (2026-05-29)
- Hasura Announces $9.9M in Series A Funding (2020-02-26)
- Announcing our $25M Series B financing (2025-06-01)
- Hasura raises $100M (2022-02-22)
- Valuation, Funding Rounds & Stock Price (2024-12-31)
- Did PromptQL Really Kill Slack? (2026-07-10)
- Management and Employees List
- Revenue, Competitors, Alternatives (2022-04-18)