- Redpanda Data recently announced that it raised $50 million in Series B funding. These are the details.
Redpanda Data (formerly Vectorized) recently announced it has raised $50 million in Series B funding, led by GV with participation from Lightspeed Venture Partners (LSVP) and Haystack VC. Since launching early last year, Redpanda became known as a modern streaming platform that gives developers a simple, fast, reliable, and unified “engine of record” for both real-time and historical enterprise data. And with its latest capital infusion, Redpanda has raised $76 million to-date and plans to grow its global engineering and go-to-market teams as customer adoption accelerates.
The business systems, services, and applications increasingly depend on real-time data. And while more businesses are looking to adopt a streaming-first approach to managing all their data, traditional streaming data platforms force businesses to manage real-time and historical data in silos, hindering business agility and driving a high total cost of ownership. But legacy streaming data platforms are architected for experts, operationally complex, and unable to keep pace with growth without compromising data safety and performance.
Redpanda is revolutionizing the streaming data layer into a platform for building the next generation of applications and services. API-compatible with Apache Kafka, Redpanda introduces a breakthrough architecture and capabilities that free developers from the limitations of previous approaches.
Redpanda is quickly gaining traction across data-intensive industries including technology, fintech, entertainment, game development, and IoT and has seen the number of deployed clusters grow from a few thousand to hundreds of thousands within the past year. And the Redpanda streaming data platform is source available to developers under the BSL license. Enterprises also partner with Redpanda for self-hosting in production environments and to access Redpanda cloud offerings.
“Redpanda has built streaming data infrastructure for developers from the ground up to deliver simplicity, performance, and reliability while enabling enterprises to continue to run the software stacks they’ve already invested in. We’re thrilled to partner with Alex Gallego and the entire team as they build the preeminent platform for developing modern applications that rely on real-time streaming data.”
— Dave Munichiello of GV
“Redpanda is what I wished I had ten years ago. Simple, fast, reliable and compatible with all my existing Kafka code.”
— Sandy Wilbourn, VP Carrier Division at Akamai Technologies
“The world has shifted to real-time first, raising the criticality of data streaming in the modern stack. We are empowering every developer to realize today the customer experiences of the future through data-intensive applications and services leveraging the full spectrum of data. While our current products already offer huge advantages in terms of simplicity, reliability, and performance, our sights are set on much bigger goals. We aim to fundamentally reshape and extend how organizations make use of streaming data. It is energizing to have a board that supports our vision and has the financial muscle to power our explosive growth.”
— Redpanda founder and CEO Alex Gallego