Redpanda Announces $50M Series B Funding from GV, Lightspeed Venture Partners, and Haystack VC

SAN FRANCISCO, Feb. 23, 2022 /CNW/ -- Redpanda Data (formerly Vectorized) today announced it has raised $50M in Series B funding, led by GV with participation from Lightspeed Venture Partners (LSVP) and Haystack VC. Released in early 2021, Redpanda is a modern streaming platform that gives developers a simple, fast, reliable, and unified "engine of record" for both real-time and historical enterprise data. With its latest capital infusion, Redpanda has raised $76M to-date and plans to grow its global engineering and go-to-market teams as customer adoption accelerates.

"Redpanda has built streaming data infrastructure for developers from the ground up to deliver simplicity, performance, and reliability while enabling enterprises to continue to run the software stacks they've already invested in," said Dave Munichiello of GV. "We're thrilled to partner with Alex Gallego and the entire team as they build the preeminent platform for developing modern applications that rely on real-time streaming data."

Business systems, services and applications increasingly depend on real-time data. While more businesses are looking to adopt a streaming-first approach to managing all their data, traditional streaming data platforms force businesses to manage real-time and historical data in silos, hindering business agility and driving a high total cost of ownership. However, legacy streaming data platforms are architected for experts, operationally complex, and unable to keep pace with growth without compromising data safety and performance.

"Redpanda is what I wished I had ten years ago. Simple, fast, reliable and compatible with all my existing Kafka code," said Sandy Wilbourn, VP Carrier Division at Akamai Technologies. 

The Modern Streaming Data Platform for Developers
Redpanda revolutionizes the streaming data layer into a platform for building the next generation of applications and services. API-compatible with Apache Kafka®, Redpanda introduces a breakthrough architecture and capabilities that free developers from the limitations of previous approaches.

• A single binary to deploy, with built-in schema registry and no external dependencies (no ZooKeeper® or JVM) for a more productive experience across local development, integration and production
  
  
• Built by performance-obsessive engineers for up to 6x faster transactions and 10x lower tail latencies, while significantly reducing the hardware footprint
  
  
• Reliable for mission-critical workloads—safe by default, with zero data loss, and predictability at petabyte scale in cloud-native environments
  
  
• A new approach to tiered storage and onboard data transformation capabilities, resulting in a single, secure, limitless platform for processing historical and real-time data

Redpanda founder and CEO Alex Gallego says, "The world has shifted to real-time first, raising the criticality of data streaming in the modern stack. We are empowering every developer to realize today the customer experiences of the future through data-intensive applications and services leveraging the full spectrum of data. While our current products already offer huge advantages in terms of simplicity, reliability, and performance, our sights are set on much bigger goals. We aim to fundamentally reshape and extend how organizations make use of streaming data. It is energizing to have a board that supports our vision and has the financial muscle to power our explosive growth."

Redpanda is quickly gaining traction across data-intensive industries including technology, fintech, entertainment, game development, and IoT and has seen the number of deployed clusters grow from a few thousand to hundreds of thousands within the past year. The Redpanda streaming data platform is source available to developers under the BSL license. Enterprises also partner with Redpanda for self-hosting in production environments and to access Redpanda cloud offerings. To learn more about Redpanda, please visit www.redpanda.com.

About Redpanda
Redpanda is the modern streaming data platform for developers. API-compatible with Apache Kafka, Redpanda introduces a breakthrough architecture and disruptive capabilities that make it a simple, fast, reliable, and unified engine of record for both real-time and historical enterprise data. Trailblazers like Cisco, Laceworks, Mr Yum, JumpTrading, and Alpaca rely on Redpanda to push hundreds of terabytes of streaming data a day through their streaming applications and services. Backed by premier venture investors Lightspeed, GV and Haystack VC, Redpanda is a diverse, people-first organization with teams distributed around the globe. To learn more, visit our website at https://redpanda.com and follow us on Twitter at @redpandadata.

SOURCE Redpanda Data Inc

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