Aiven, a software company that combines the best open-source technologies with cloud infrastructure, has secured $60 million in Series C extension at a $2 billion valuation bringing total Series C investment to $160 million.
This extension, which brings Aiven’s total funding to date to $210 million, was co-led by existing investors World Innovation Lab and IVP, and with the participation from Atomico and others. In a testament to the growth and potential Aiven showcases in its capabilities, a number of investors increased their capital commitments to Aiven just seven months after the company’s successful $100 million Series C.
As the latest unicorn of the Nordics, Aiven is experiencing growing revenue of over 100 per cent year on year and aims to continue maximising its growth in a journey to becoming the global category leader in managed cloud data infrastructure. Aiven currently has more than 230 employees scaling global hubs from Helsinki, reaching Berlin, Boston, Toronto and Sydney. Following the fundraise, the company will expand its reach in the Asia-Pacific region by opening an office in Singapore.
The move to expand to a South-East Asian (SEA) is influenced by the high momentum of digital transformation in the region. With more and more investments allocated to digitalisation and open source software, the economic growth potential and access to talent are strong, making Singapore a key market for Aiven. Future regional expansion locations include Indonesia and Malaysia.
Read more/Source: Private Equity Wire
