Aiven, a software company that combines the best open-source technologies with cloud infrastructure, has secured USD60 million in Series C extension at a USD2 billion valuation bringing total Series C investment to USD160 million.
This extension, which brings Aiven’s total funding to date to USD210 million, was co-led by existing investors World Innovation Lab and IVP, and with the participation from Atomico and others. In a testament to the growth and potential Aiven showcases in its capabilities, a number of investors increased their capital commitments to Aiven just seven months after the company’s successful USD100 million Series C.
As the latest unicorn of the Nordics, Aiven is experiencing growing revenue of over 100 per cent year on year and aims to continue maximising its growth in a journey to becoming the global category leader in managed cloud data infrastructure. Aiven currently has more than 230 employees scaling global hubs from Helsinki, reaching Berlin, Boston, Toronto and Sydney. Following the fundraise, the company will expand its reach in the Asia-Pacific region by opening an office in Singapore.
The move to expand to a South-East Asian (SEA) is influenced by the high momentum of digital transformation in the region. With more and more investments allocated to digitalisation and open source software, the economic growth potential and access to talent are strong, making Singapore a key market for Aiven. Future regional expansion locations include Indonesia and Malaysia.
“This is an exciting step for Aiven on our journey and indicates that our team is successfully delivering on our mission to champion open source and make the lives of developers better in all that we do,” says Oskari Saarenmaa, CEO and co-founder at Aiven. “The additional funding from our existing investors will allow us to rapidly expand our global footprint, significantly contribute to the open source community and support the growth of other tech startups.”
In an effort to give back to the open source community, Aiven continues its open source investment with its recently launched open source program office, solely focused on contributing to the projects that are key to Aiven’s customers. Additionally, Aiven will support promising entrepreneurs and launch its own startup program in December. The program participants will get access to Aiven’s expertise and data platform for free for one year.
“IVP originally invested in Aiven in January of 2020 behind a belief that the company’s outstanding product and platform would enable companies of all sizes to manage their exploding data needs easily and efficiently,” says Eric Liaw, General Partner at IVP. “Under Oskari’s leadership, the Aiven team is delivering tremendous value for their customers, and the proof is that the company has more than quadrupled since our original investment and growth is accelerating.”
