Aiven, which provides managed, cloud-based services designed to make it easier for businesses to build services on top of open-source projects, raised $40 million in Series B funding.
The funding round was led by Silicon Valley-based IVP, a late-stage venture capital firm. The firm’s investment portfolio includes Datadog, Dropbox, GitHub, HashiCorp, and Slack.
Existing investors Earlybird VC and Lifeline Ventures and family offices of Risto Siilasmaa, chairman of Nokia, and Olivier Pomel, founder of Datadog, also participated in the round.
The company plans to use the new funds to triple headcount, add new open source technologies like M3 and Flink, and introduce new enterprise-grade features.
Aiven democratizes access to the latest open source technologies by offering fully-managed services for popular open source projects like Apache Kafka and Cassandra, Elasticsearch, M3, and PostgreSQL in the public cloud. The company serves over 500 businesses, including Atlassian, Comcast, OVO Energy, and Toyota.
As part of the investment, IVP General Partner Eric Liaw will join Aiven’s board of directors. “The increasing adoption of open-source infrastructure software and public cloud usage are among the incredibly powerful trends in enterprise technology and Aiven is making it possible for customers of all sizes to benefit from the advantages of open source infrastructure,“ Liaw said.
“In addition to their market potential and explosive yet capital-efficient growth, we were most impressed to hear from customer after customer that ‘Aiven just works.’ The overwhelmingly positive feedback from customers is a testament to their hiring practices and the strong engineering team they have built. We’re thrilled to partner with Aiven’s team and help them build their vision of a single open-source data cloud that serves the needs of customers of all sizes.”
For the first time in five years, enterprise software companies raised more venture funding than consumer technology companies – more than $30 billion.