Aiven, a Finland-based supplier of open-source software, increased a series C round featuring enterprise software provider Salesforce to $160m yesterday with a $60m extension valuing it at $2bn.
Venture capital firms IVP and World Innovation Lab co-led the extension, which also featured Atomico and unnamed others. It increased the company’s overall funding to $210m.
Founded in 2016, Aiven provides corporate clients with access to open-source software to create products on the cloud. It claims it is experiencing year on year growth of 100%, and will use the funding to support its global expansion.
Atomico led the round’s $100m first tranche in March this year. It was also backed by Salesforce’s corporate venturing unit, Salesforce Ventures, as well as World Innovation Lab, IVP and Earlybird Ventures, at a valuation of more than $800m.
IVP led the company’s $40m series B round in February 2020 with participation from Earlybird, Lifeline Ventures and the family offices of investors Risto Siilasmaa and Olivier Pomel. It came after nine months after Earlybird led a $9m series A round that also featured Lifeline Ventures and Siilasmaa.
Aiven co-founder and chief executive Oskari Saarenmaa said: “This is an exciting step for Aiven on our journey and indicates that our team is successfully delivering on our mission to champion open source and make the lives of developers better in all that we do.
“The additional funding from our existing investors will allow us to rapidly expand our global footprint, significantly contribute to the open-source community and support the growth of other tech startups.”
