Redpanda Raises $50M in Series B Funding

Redpanda Raises Series B Funding

A streaming data platform firm called Redpanda (formerly Vectorized) raised $50M in Series B funding.

GV led the round, which also included Lightspeed Venture Partners (LSVP) and Haystack VC.

As client acceptance increases, the company plans to use the cash to expand its worldwide engineering and go-to-market teams.

Redpanda is a streaming data platform for developers, under the direction of CEO Alex Gallego. Redpanda delivers a new architecture and capabilities that make it a quick and unified engine of record for both real-time and historical enterprise data, and it is API compatible with Apache Kafka.

The solution is becoming more popular across data-intensive industries, including technology, fintech, entertainment, game development, and IoT. Within the last year, the number of clusters that have been deployed has increased from a few thousand to hundreds of thousands. The BSL licence makes the source code for the streaming data platform available to developers. Businesses also collaborate with Red-panda to access Redpanda cloud services and self-host in production environments.