Redpanda Data has reportedly raised USD 50 million in a Series B fundraising, led by GV, with participation from Lightspeed Venture Partners (LSVP) and Haystack Venture Capital.
For those unaware, Redpanda is a modern streaming platform that provides developers with a simple, quick, reliable, and unified "engine of record" for both real-time and historical enterprise data. Founded in 2021, Redpanda has now collected USD 76 million in total funding and expects to expand its worldwide engineering and go-to-market teams as customer usage grow.
According to GV’s Dave Munichiello, Redpanda designed streaming data infrastructure for developers from the ground up to give simplicity, performance, and dependability while allowing organizations to keep running the software stacks, they've already invested in.
Munichiello also stated that GV is thrilled to be working with Alex Gallego and the rest of the team as they have created the leading platform for building modern apps that rely on real-time streaming data.
Redpanda founder and CEO, Alex Gallego was reportedly quoted saying that the world has switched to real-time first, boosting the importance of data streaming in the modern stack, and Redpanda is equipping every developer with the tools they need to create tomorrow's consumer experiences now, using data-intensive applications and services that make use of the complete spectrum of data.
While the current solutions provide significant benefits in terms of simplicity, reliability, and performance, the firm also wants to significantly change and expand how businesses use streaming data, Gallego added.
Redpanda is swiftly gaining traction in data-intensive areas such as technology, fintech, entertainment, game development, and IoT, with the number of deployed clusters increasing from a few thousand to hundreds of thousands in just a year.
Under the BSL license, developers can access the Redpanda streaming data platform source code. Redpanda also works with businesses to provide self-hosting in production environments and access to Redpanda cloud services.
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