Aiven, a startup from Finland with offices in Berlin, Germany and Sydney, Australia and Boston, MA, has raised $40 million in Series B funding. This brings the total funds raised to $50 million. The new round of financing would enable Aiven to expand its presence in the U.S.
While larger companies have the resources and expertise to manage these deployments internally, most companies would require some level of third-party support to effectively utilize open source.
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. Aiven now serves over 500 businesses worldwide, including Atlassian, Comcast, OVO Energy and Toyota, and is available on all major public clouds.
Aiven experienced tremendous growth in 2019. The company tripled its revenue run rate, added 200 new customers, doubled headcount and opened two new offices in Berlin and Sydney. Aiven will use the proceeds of the round to triple headcount, add new open source technologies like M3 and Flink, and introduce new enterprise grade features.
“This investment is evidence of a growing appetite from enterprises for open source data technologies,” said Oskari Saarenmaa, CEO and co-founder at Aiven. “Aiven is able to close that gap by offering a platform that abstracts away all the complexities of operating those technologies so our customers can focus on their business applications and driving the bottom-line. With the new funding, we’ll be able to expand our product roadmap and work more closely with our customers globally to help them utilize open source technologies at scale.”
Silicon Valley-based IVP
The round was led by Silicon Valley-based IVP, whose notable investments include Datadog, Dropbox, GitHub, HashiCorp and Slack. Existing investors Earlybird VC and Lifeline Ventures, as well as family offices of Risto Siilasmaa, chairman of Nokia, and Olivier Pomel, founder of Datadog, also participated in the round. 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,” said Eric Liaw. “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.”