Aiven, a Helsinki-based cloud technology startup, has raised a $40 million Series B round led by the Silicon Valley-based Institutional Venture Partners (IVP), with participation from Earlybird and other investors.
Founded in 2016, the Finnish company has built an automated cloud operations platform, turning open-source distributed data systems into cloud services. With the software, developers can focus on core products rather than the underlying infrastructure.
“Aiven offers a platform that abstracts away all the complexities of operating open source data technologies so our customers can focus on their business applications and driving the bottom line,” explained CEO and co-founder, Oskari Saarenmaa.
In 2019, the company tripled its revenue run rate, doubled its headcount and opened two new offices, in Berlin and Sydney. Currently it has 500 customers, including big players such as Atlassian, Comcast and Toyota.
The new funding will go to the east and west coasts of the US, strengthening the business’ presence in Boston as well as opening an office in the San Francisco Bay Area. The startup will also invest in further product development, particularly new open source technologies such as M3 and Flink.