Event-streaming tech startup raised $250 million in its Series E, bringing the company to a $4.5 billion valuation.
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The new round was led by , with participation from new investors and , along with existing investors and . Mountain View, California-based Confluent now has $456 million in total funding, according to a from the company.
���Though new data technologies come and go, is emerging as a major new category that is on a path to be as important and foundational in the architecture of a modern digital company as databases have been,��� CEO Jay Kreps wrote in a .
Confluent���s business rests on the idea that updates every 24 hours from ���batch-processed data��� isn���t enough to keep up with the speed and personalization that people want. The platform is based on Apache Kafka, an open-source distributed streaming platform.
���Every change in a bank account, update to a ride share ETA, or adjustment to a store���s inventory triggers a stream of events,��� the company said in a statement. ���The ability to quickly access and act on these events influences an organization���s ability to be competitive in the modern digital world.���
Along with the new funding announcement, Confluent said it would be announcing new capabilities or products on the first Wednesday of each month for the next eight months.
���Today���s high expectations for on-demand services has given rise to a new data infrastructure paradigm where data is no longer just a static database of information,��� Kreps said in a statement. ���Event streaming has set the new standard for how data can be leveraged across an organization as a continuous stream of real-time events. We���re looking forward to helping more companies put event streaming at the heart of their businesses to deliver the real-time, contextual experiences customers demand.���
Confluent last raised $125 million in its January 2019 Series D round, which was led by Sequoia. The company has doubled its year-over-year annual recurring revenue in 2019 and increased revenue for Confluent Cloud by more than 450 percent, according to Confluent.
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