Aiven announced raising $40 million in funding, in a Series B led by IVP.

Finland Investments 05 February 2020
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Aiven, a Helsinki, Finland-based company developing open source technologies for the cloud infrastructure, announcedit completed $40 million in Series B funding.

The round was led by IVP, and included participation from existing investors Earlybird VC and Lifeline Ventures, as well as family offices of Risto Siilasmaa (First Fellow Partners), chairman of Nokia, and Olivier Pomel, founder of Datadog.

The new round of financing will enable Aiven to expand its presence in the U.S. and accelerate Aiven's mission of empowering developers and democratizing access to the latest open source technologies.

Aiven, founded in 2016 by CEO Oskari Saarenmaa, Mika Eloranta, Heikki Nousiainen and Hannu Valtonen, is offering fully-managed services for popular open source projects like Apache Kafka and Cassandra, Elasticsearch, M3 and PostgreSQL in the public cloud. The company claims to serve over 500 businesses worldwide, including Atlassian, Comcast, OVO Energy and Toyota, and is available on all major public clouds.

Aiven experienced tremendous growth in 2019. The company tripled its revenue run rate, added 200 new customers, doubled headcount and opened two new offices in Berlin and Sydney.

Prior to this round, Aiven secured almost $10 million in outside funding.