Aiven’s existing investors increase capital investment to double down the company’s exponential growth and global open source innovation
Aiven, a software company that combines the best open source technologies with cloud infrastructure, today announced a $60M Series C extension at a $2B valuation, bringing the total Series C round to $160M. This extension brings Aiven’s total funding to date to $210M. The round was co-led by existing investors World Innovation Lab and IVP, and with participation from Atomico and others. In a testament to the growth and potential Aiven showcases in its capabilities, a number of investors increased their capital commitments to Aiven just seven months after the company’s successful $100 million Series C.
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As the latest unicorn of the Nordics, Aiven is growing its revenue over 100% year on year and aims to continue maximizing its growth in a journey to becoming the global category leader in managed cloud data infrastructure. Aiven currently has more than 230 employees scaling global hubs from Helsinki, reaching Berlin, Boston, Toronto and Sydney. Following the fundraise, the company will expand its reach in the Asia-Pacific region by opening an office in Singapore.
“This is an exciting step for Aiven on our journey and indicates that our team is successfully delivering on our mission to champion open source and make the lives of developers better in all that we do,” said Oskari Saarenmaa, CEO and co-founder at Aiven. “The additional funding from our existing investors will allow us to rapidly expand our global footprint, significantly contribute to the open source community and support the growth of other tech startups.”
In an effort to give back to the open source community, Aiven continues its open source investment with its recently launched open source program office, solely focused on contributing to the projects that are key to Aiven’s customers. Additionally, Aiven will support promising entrepreneurs and launch its own startup program in December. The program participants will get access to Aiven’s expertise and data platform for free for one year.
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“Aiven has grown rapidly and become an emerging leader in the large, fast-growing data cloud market,” said Tsune Shirota, Partner at World Innovation Lab. “Aiven’s expertise in open source and cloud is deeply resonating with customers, as seen by its quickly growing and diverse customer base of over 700 companies in over 50 countries. We are excited to significantly increase our commitment and look forward to supporting Aiven’s growth and its effort to drive further innovation in the data cloud.”
“IVP originally invested in Aiven in January of 2020 behind a belief that the company’s outstanding product and platform would enable companies of all sizes to manage their exploding data needs easily and efficiently,” said Eric Liaw, General Partner at IVP. “Under Oskari’s leadership, the Aiven team is delivering tremendous value for their customers, and the proof is that the company has more than quadrupled since our original investment and growth is accelerating.”
With Aiven’s fully-managed services for popular open source projects like Apache Kafka and Cassandra, OpenSearch, M3, PostgreSQL and more in the public cloud, businesses can have a modern, fully-functional open source data infrastructure from anywhere in the world in minutes. According to a recent IDC whitepaper, companies leveraging Aiven’s offerings report a 340% ROI over three years thanks to reduced cost of using open source solutions, increased development team efficiency, as well as increased revenue through enhanced agility and scalability.
