(Anton Watman/Shutterstock)
Streaming information platform Redpanda has raised $100 million in a Sequence C funding spherical for a complete of $165 million in funding.
Redpanda is a Kafka-compatible streaming information platform that the corporate says is excessive efficiency, operationally pleasant, and cloud prepared. The San Francisco-based firm was based in 2019 as a Kafka alternative for mission crucial techniques.
Apache Kafka has been a dominant streaming platform since its launch in 2011, however as a Redpanda weblog put up posits, Kafka was designed throughout a time when information volumes had been comparatively low and when {hardware} was costlier and fewer highly effective than right this moment.
“The software program resolution that dominated this period? Apache Kafka—a distributed publish-subscribe system open-sourced by LinkedIn that was designed to make the most of low-cost commodity spinning disks by way of virtualization,” wrote the put up’s writer, Doug Flora. “Its reputation exploded, and the Kafka API ecosystem unfold to each layer of the information stack. Most information software program and providers right this moment come pre-wired to speak to Kafka. And, with 80% of the Fortune 100 utilizing it, Kafka continues to carry the crown because the go-to streaming information platform for a lot of.”
(Supply: Redpanda)
As we speak’s information processing necessities can attain trillions of occasions per day, a quantity Redpanda says Kafka can not sustain with, so organizations with ultra-intensive information necessities are searching for sooner, extra scalable alternate options.
Redpanda positions its platform as a contemporary, sooner, simpler, and cheaper various to Kafka that’s designed to satisfy right this moment’s demanding information streaming workloads. The corporate says it’s a self-contained, single binary with its schema registry, HTTP proxy, and message dealer built-in. The platform is absolutely Kafka API-compatible and might work with all Kafka streaming apps and instruments with no code adjustments crucial. Redpanda is engineered in C++ with a thread-per-core structure that the corporate claims permits it to maximise useful resource utilization, preserve persistently low latencies, and ship excessive throughputs. The aforementioned weblog put up claims testing reveals that Redpanda outperforms Kafka at tail latencies (p99.99) by at the very least an element of 10.
Alex Gallego, the founder and CEO of Redpanda, mentioned in a press release that the corporate was constructed for engineers.
“The hero of the Redpanda story has at all times been the engineer, fingers on keyboard, behind a terminal, materializing her concepts right into a working system. That’s who we constructed Redpanda for, and why we made it simple to make use of, scalable to double-digit gigabytes per second, and appropriate with all the prevailing purposes,” he mentioned.
This newest spherical was led by returning traders Lightspeed Enterprise Companions with participation from GV and Haystack VC. The corporate mentioned in a launch it could leverage this newest capital to allow data-intensive purposes with new foundational capabilities which are past the scope of legacy streaming information platforms. Redpanda says it has doubled its workforce and has seen a 5x progress in income throughout this fiscal 12 months.
Outcomes from Redpanda’s inside benchmarking research present its efficiency in opposition to Kafka, in keeping with the corporate. (Supply: Redpanda)
“Final 12 months we grew to hundreds of manufacturing installations. The funds will assist us speed up this progress whereas constructing a future the place all information is immediately out there, with embedded processing in a multi-tenant platform that actually scales to zero, lastly making streaming accessible to the 44 million builders on the earth,” mentioned Gallego.
Redpanda has related with clients in data-intensive industries like finance, expertise, cybersecurity, manufacturing, and aerospace. Its Redpanda streaming information platform is source-available to builders underneath the BSL license.
In December 2022, Redpanda started providing a bring-your-own-cloud deployment mannequin that it says combines the effectivity of a totally managed service with the information sovereignty and safety of self-hosting. This deployment choice is most popular by over 30% of Redpanda’s clients, the corporate mentioned.
“Redpanda has demonstrated super momentum underneath Alex’s management,” mentioned Arif Janmohamed, companion at lead investor Lightspeed Enterprise Companions. “Redpanda’s information platform was constructed from the bottom up for the cloud period and has delivered unbelievable efficiency and efficiencies for our revolutionary buyer base. We’re excited that this funding will assist to increase Redpanda’s go-to-market actions, bringing its advantages to a fair larger viewers.”
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