Led by Lightspeed Venture Partners, the new round will fuel the streaming data company’s investments in WebAssembly, Apache Iceberg and serverless
SAN FRANCISCO, June 27, 2023 (GLOBE NEWSWIRE) — Redpanda Data announced today that it has raised $100M in Series C funding, led by returning investors Lightspeed Venture Partners, along with GV and Haystack VC. With $165M in funds secured to date, Redpanda will leverage this latest capital infusion to enable data-intensive applications with new foundational capabilities that are beyond the scope of legacy streaming data platforms.
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.
“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,” explained 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.”
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.
Redpanda has demonstrated tremendous momentum under Alex’s leadership,” said Arif Janmohamed, Partner at lead investor Lightspeed Venture Partners. “Redpanda’s data platform was built from the ground up for the cloud era and has delivered incredible performance and efficiencies for our innovative customer base. We’re excited that this funding will help to extend Redpanda’s go-to-market activities, bringing its benefits to an even greater audience.”
“When selecting a streaming data platform, the choice for Jump was obvious,” said Alex Davies, CTO at Jump Trading. “For starters, we needed assurance we’d have zero data loss. We also needed something that would meet our high throughput requirements. That put Redpanda in a class of its own.”
“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,” said Colin Riddell, Director of Data Engineering at Fortis Games. “Redpanda quickly rose to the top of our list for a streaming data solution because we knew that its engineers obsess over performance and reliability at scale, and we loved the fact that it is Kafka API-compatible and just works with the ecosystem we already know.”
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. To learn more about Redpanda, please visit www.redpanda.com.
About Repanda
Redpanda is the streaming data platform for developers. Built from the ground up with a native Kafka API, Redpanda is engineered to eliminate complexity, maximize performance, and reduce costs. Trailblazers like Activision, Texas Instruments, Midjourney, StoneX, Cisco, Lacework, Optimizely, Vodafone, Moody’s, Jump Trading and NCR rely on Redpanda to push hundreds of terabytes of streaming data a day through their applications and services. Backed by premier venture investors GV, Lightspeed, and Haystack VC, Redpanda is a diverse, people-first organization, with teams distributed around the globe. To learn more, visit https://redpanda.com.
Press Contact:
Morgan Malone
Senior Account Executive, The Bulleit Group
redpanda@bulleitgroup.com
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