The Ring Zero of real-time data processing: Redpanda scores $50M Series B funding to grow its streaming platform
Maintaining compatibility with the de-facto market standard while reimplementing and extending it. It’s easier said than done, but that’s what Redpanda is doing, and it seems to be working.
Real-time data processing is hot. Pioneers like Netflix have been doing it for years and reaping the benefits. Big on Data has been onto this for years, too. Now the rest of the world seems to be catching up.
The streaming analytics market (which depending on definitions, may just be one segment of real-time data processing) is projected to grow from $15.4 billion in 2021 to $50.1 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 26.5% during the forecast period as per Markets and Markets.
Today, Redpanda Data (formerly Vectorized) announced it has raised $50M in Series B funding, led by GV with participation from Lightspeed Venture Partners (LSVP) and Haystack VC. Released in early 2021, Redpanda is touted as a modern streaming platform that gives developers a simpler, faster, more reliable, and unified record system for real-time and historical enterprise data.
We caught up with Redpanda founder and CEO Alex Gallego to discuss the platform’s origins and key premise, as well as business fundamentals and roadmap.