Redpanda Data announced it has raised $100 million in Series C funding, enabling the company to infuse this capital into data-intensive applications with new foundational capabilities that are beyond the scope of legacy streaming data platforms.
The funding round was led by returning investors Lightspeed Venture Partners, along with GV and Haystack VC. The company now has $165 million in funds secured to date.
“The hero of the Redpanda story has always been the engineer, hands on keyboard, behind a terminal, materializing her ideas into a working system. That’s who we built Redpanda for, and why we made it easy to use, scalable to double-digit ??gigabytes per second, and compatible with all the existing applications,'' said Alex Gallego, founder and CEO of Redpanda. “Last year we grew to thousands of production installations. The funds will help us accelerate this growth while building a future where all data is instantly available, with embedded processing in a multi-tenant platform that truly scales to zero, finally making streaming accessible to the 44 million developers in the world.”
Redpanda continues to cement its position as the streaming data platform of choice for both transactional and analytical applications.
With the ongoing cross-industry transformation of applications from batch to real-time and the rapid adoption of AI and ML, Redpanda has experienced a bumper fiscal year including 5X revenue growth and a workforce that has more than doubled, according to the company.
In December 2022 Redpanda pioneered its 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, according to the company.
Redpanda has seen broad adoption of its offerings across data-intensive industries such as finance, technology, cybersecurity, manufacturing, gaming, aerospace, and more.
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.
For more information about this news, visit www.redpanda.com.