On Wednesday, Confluent, a real-time data startup, secured $24 million in Series B round of funding led by Index Ventures along with existing investor Benchmark.
Founded by the creators of Apache Kafka, Confluent enables companies to harness business value of live data. The platform manages the barrage of stream data and makes it accessible throughout an organization. It serves a wide range of industries like retail, logistics, manufacturing, to financial services and online social networking, a scalable, unified, real-time data pipeline that allows applications ranging from large volume data integration to big data analysis with Hadoop to real-time stream processing. The company is backed up Benchmark, Data Collective, Index Ventures and LinkedIn.
Big companies like LinkedIn, Netflix Inc., Uber, Cisco Systems Inc and Goldman Sachs all use Kafka, the open-source technology that founders of Confluent developed. ” Because Kafka was born in the modern Big Data environment, it is designed to simplify the management of massive real-time data streams.” said Mike Volpi, partners at Index Ventures who joined Confluent’s board of directors further to the funding.
The new funding will help the company boost the development and enterprise adoption of the Confluent platform, build around Apache Kafka and highlights the increasing importance of real-time data in the modern business organizations. The startup is also building new stream processing capabilities that will help analystical operations on real-time data streams, similar to those available on standard databases today, for more static, slow-moving data.
” Confluent’s platform can also support hundreds of applications built to disparate teams and is scalable, reliable enough to handle critical updates, and features a stream-processing framework that integrates easily and makes data available for real-time processing.Co-founders Jay, Neha and June Rao have created a highly intelligent product and we are excited to support their continued growth,” said Volpi.