Renowned Event Streaming Platform, Confluent Raises $250 Million
Confluent, the California-based Apache Kafka and Event Streaming Platform has raised $250 million in Series E funding round with which the platform has achieved a total valuation of $4.5 billion. The new round has been led by Coatue Management along with the participation of Altimeter Capital, Franklin Templeton, Index Ventures and Sequoia Capital.
According to Confluent, including new round, the company has raised a total count of $456 million since it was launched in 2014, and it has gained steam, funding and gaudy valuations along the way. The firm had lastly raised $125 million in Series D funding round last year. At that time the company was valued at $2.5 billion.
Jay Kreps, the Co-founder and CEO of Confluent states, “As part of this we’re going to have a major new set of capabilities for our cloud service, and for open-source Kafka, and for our product that we’re going to announce every month for the rest of the year.” He adds, “This whole infrastructure area is really evolving as it moves to the cloud. And so it has to become much, much more elastic and scalable as it really changes how it works. And we’re going to have announcements around what we think are the core capabilities of event streaming in the cloud.”
Confluent claims that currently it has 1,000 employees and has plans to continue to hire and to expand the product.
Jay further includes, “I don’t think you want to just turtle up and hang on to your existing customers and not expand if you’re in a market that’s really growing. What really got this round of investors excited is the fact that we’re onto something that has a huge market, and we want to continue to advance, even in these really weird uncertain times.”
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