GV and Haystack VC, as well as returning investors Lightspeed Venture Partners, have helped Redpanda Data collect $100 million in Series C fundraising, the company reported today. Redpanda, which has so far collected $165 million in funding, will use its most recent round of investment to provide data-intensive applications new core capabilities that go beyond what can be done with legacy streaming data platforms.
Redpanda is solidifying its position as the go-to streaming data platform for developers - for both analytical and transactional applications. Redpanda says it has had a banner fiscal year with 5X revenue growth and a staff that has more than quadrupled due to the continued cross-industry migration of applications from batch to real-time and the growing adoption of AI and ML.
“The engineer, hands on the keyboard, behind a terminal, turning her ideas into a functional system, has always been the protagonist of the Redpanda narrative,” said Alex Gallego, founder and CEO of Redpanda. “We made it simple to use, scalable to double-digit gigabytes per second, and compatible with all the existing applications. We increased to thousands of production installations last year. With integrated processing on a multi-tenant platform that genuinely scales to zero, the funds will enable us to accelerate this growth while creating a future in which all data is instantaneously available. This will allow the 44 million developers throughout the globe to use streaming.”
Kafka API-Compatible
In December 2022 Redpanda pioneered its “industry-first” Bring Your Own Cloud (BYOC) deployment model, which combines the efficiency of a fully managed service with the data sovereignty and security of self-hosting. BYOC has quickly become the preferred deployment model of more than 30% of Redpanda’s customers.Under Alex Gallego’s direction, Redpanda has shown incredible progress, according to partner Arif Janmohamed of lead investor Lightspeed Venture Partners. “Redpanda’s streaming data platform was created from the bottom up for the cloud age and has provided our creative client base with great performance and efficiency. We’re thrilled that this money will aid in extending Redpanda’s go-to-market efforts and expanding access to its advantages.”
The decision for Jump was simple when choosing a streaming data platform, according to Alex Davies, CTO of Jump Trading. “We first required confirmation that there would be no data loss. Additionally, we need something that could handle our high throughput needs. That elevated Redpanda to another level.”
According to Colin Riddell, Director of Data Engineering at Fortis Games, “As a new game studio, we needed to build a flexible data platform that empowers our developers to get real-time insights from game events, without having to worry about the backend infrastructure. We knew Redpanda’s developers were obsessed with speed and stability at scale, and we appreciated that it is Kafka API-compatible and simply works with the ecosystem we already know. Redpanda immediately jumped to the top of our list for a streaming data solution.”
In data-intensive areas including banking, technology, cybersecurity, manufacturing, gaming, aerospace, and more, Redpanda has experienced widespread adoption of its products.
Developers may access the Redpanda streaming data platform’s source code under the BSL license. Enterprises also partner with Redpanda for self-hosting in production environments and to access Redpanda cloud offerings.
