Finnish open-source-as-a-service provider Aiven has attracted a $60m extension to its Series C funding which now values the firm at $2bn. The latest c

WTF? Value of Finnish open-source-as-a-service startup Aiven jumps $1.2bn in 7 months

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2021-10-19 14:30:15

Finnish open-source-as-a-service provider Aiven has attracted a $60m extension to its Series C funding which now values the firm at $2bn.

The latest cash injection suggests remarkable growth in the nominal value of the Scandinavian startup, founded five years ago, which was worth $800m when it got its first $100m-tranche of Series C funding in March.

Aiven sells open-source data technologies as a managed service. Unlike some DBaaS systems, which punt proprietary or less permissive licences for their as-a-service offers built on open source technologies, Aiven provides a stack of as-a-service systems in their true open source form.

Apache streaming platform Kafka is Aiven's most popular product, but open source relational database PostgreSQL, which released iteration 14 earlier this month, Apache Cassandra, Redis, MySQL, OpenSearch and more are available.

The privately owned company says it has seen revenue double year-on-year but didn't provide an absolute figure. Staffing numbers have increased from 40 to 230+ in the last 18 months.