US-based data streaming software developer Vectorized has raised $15.5m in seed and series A funding from investors including GV, a corporate venturing subsidiary of internet technology group Alphabet, it announced yesterday.
The funding consists of a $3m seed round led by venture capital firm Lightspeed Venture Partners and a $12.5m series A also led by Lightspeed that included GV and – according to Lightspeed general partner Arif Janmohamed – VC firm Haystack.
Founded in 2019, Vectorized has just launched its first product, Redpanda, an open-source software platform used to store and analyse streaming data. The proceeds of the round will be used to accelerate product innovation as well as its go-to-market activities.
Alexander Gallego, Vectorized’s founder and chief executive, said: “We are inverting the relationship of shipping data to code and instead shipping code to data and enterprise infrastructure teams love us for it.
“By unifying access and management over both their legacy and real-time data with Redpanda, our enterprise customers are now delivering better and more reliable results for their organisations.”