Helsinki-based cloud technology startup Aiven has raised $40 million in Series B funding, thus bringing the total funds raised to $50 million. Aiven plans to use the proceeds to triple headcount, add new open source technologies like M3 and Flink, and introduce new enterprise grade features.
The latest 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.
“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.”
In 2019, the company tripled its revenue run rate, added 200 new customers, doubled headcount and opened two new offices in Berlin and Sydney. The new round of financing will enable Aiven to expand its presence in the U.S. and accelerate Aiven’s mission of empowering developers and democratizing access to the latest open source technologies.
The Series B will allow Aiven to provide new cloud services for customers and continue empowering developers to focus on their core products, not the underlying infrastructure.