Redpanda Data (formerly Vectorized) today announced it has raised $50M in Series B funding, led by GV with participation from Lightspeed Venture Partners (LSVP) and Haystack VC. Released in early 2021, Redpanda is a modern streaming platform that gives developers a simple, fast, reliable, and unified “engine of record” for both real-time and historical enterprise data. With its latest capital infusion, Redpanda has raised $76M to-date and plans to grow its global engineering and go-to-market teams as customer adoption accelerates.
“Redpanda has built streaming data infrastructure for developers from the ground up to deliver simplicity, performance, and reliability while enabling enterprises to continue to run the software stacks they’ve already invested in,” said Dave Munichiello of GV. “We’re thrilled to partner with Alex Gallego and the entire team as they build the preeminent platform for developing modern applications that rely on real-time streaming data.”
Business systems, services and applications increasingly depend on real-time data. While more businesses are looking to adopt a streaming-first approach to managing all their data, traditional streaming data platforms force businesses to manage real-time and historical data in silos, hindering business agility and driving a high total cost of ownership. However, legacy streaming data platforms are architected for experts, operationally complex, and unable to keep pace with growth without compromising data safety and performance.
“Redpanda is what I wished I had ten years ago. Simple, fast, reliable and compatible with all my existing Kafka code,” said Sandy Wilbourn, VP Carrier Division at Akamai Technologies.
Redpanda founder and CEO Alex Gallego says, “The world has shifted to real-time first, raising the criticality of data streaming in the modern stack. We are empowering every developer to realize today the customer experiences of the future through data-intensive applications and services leveraging the full spectrum of data. While our current products already offer huge advantages in terms of simplicity, reliability, and performance, our sights are set on much bigger goals. We aim to fundamentally reshape and extend how organizations make use of streaming data. It is energizing to have a board that supports our vision and has the financial muscle to power our explosive growth.“