The valuation jumped to $4.5 billion from the $2.5 billion achieved in  Round D.

Open-source Apache Kafka startup Confluent Inc drew $250 million in a Series E funding round led by Coatue Management. Existing investors Index Ventures and Sequoia Capital also participated in the round. New investors Altimeter Capital and Franklin Templeton joined in the funding. (Silicon Angle)

In its Series D round held in January 2019 Confluent raised $125 million at a valuation of $2.5 billion. After that funding, Confluent launched Confluent Cloud, a Kafka-based cloud-native data streaming ingestion platform on Amazon Web Services, Microsoft Azure, and Google Cloud.

As on date, Confluent has raised a cumulative amount of $456 million.

Walmart Inc (NYSE: WMT) has deployed Confluent’s software. It will manage its inventory in real-time and seamlessly between its physical stores and eCommerce sites.

Solid revenue growth

Robust demand for real-time digital experiences led to the rising adoption of event streaming as the platform for current and historical data. Annual revenue, therefore, doubled year on year in 2019, while Confluent Cloud revenue rose more than 450% year over year.

Confluent confirmed that its valuation jumped to $4.5 billion due to the impact of event streaming.

In every industry, companies are moving to real-time as they digitally transform their businesses. This has made event streaming a critical platform for enterprise IT,” said Kevin Wang, partner, Altimeter Capital. “Confluent has the unique product-market fit, leadership, and customer focus to help organizations become agile, event-driven winners in the new digital economy.”

“As part of this we’re going to have a major new set of capabilities for our cloud service, and for open-source Kafka, and for our product that we’re going to announce every month for the rest of the year,” Confluent CEO and co-founder Jay Kreps told TechCrunch.

“What really got this round of investors excited is the fact that we’re onto something that has a huge market, and we want to continue to advance, even in these really weird uncertain times,” he said.

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