Enterprise adoption of event streaming frameworks is paying off for the founders of Apache Kafka, the popular stream processing platform that is poised for an upgrade.
Confluent Inc., the company launched by Kafka founders, announced a hefty $250 million funding round on Tuesday (April 21) along with a new project touted as the “next act” for real-time data streaming. The Series E round that included new investors Altimeter Capital and Franklin Templeton lifts Confluent’s total funding to $456 million. The company claims a market valuation of $4.5 billion.
Kafka-based event-streaming platforms have expanded data access to applications and their users. Confluent said the next challenge is building and scaling “event-driven” applications across datacenters, multiple clouds and microservices.
“Event streaming has set the new standard for how data can be leveraged across an organization as a continuous stream of real-time events,” Jay Kreps, Confluent’s CEO and co-founder, said in announcing the funding round.
The company also announced the launch of Project Metamorphosis, a next-generation event streaming platform hosted on Confluent’s cloud. A series of monthly product and feature releases beginning in May and extending over eight months will flesh out the upgraded real-time streaming platform, Confluent said.
The new capabilities will be “organized around the core tenets we think should be mandatory for cloud infrastructure,” Kreps added in a blog post. “Taken together we believe these will set the bar for this emerging space and lay the foundation for what we plan to do over our next five years.”
Project Metamorphosis is being launched as Confluent ramps up its ksql database built atop Kafka and positioned as the future of stream processing. Other initiatives include collecting data streams from connected Internet of Things devices. Confluent said it is currently managing more than 4,500 Kafka clusters on its cloud platform.
Recent items:
Confluent Reveals ksqlDB, a Streaming Database Built on Kafka
Higher Abstractions, Lower Complexity in Kafka’s Future
Real-Time Data Streaming, Kafka and Analytics, Part 2: Going Beyond Pure Streaming
March 29, 2024
- Domo Expands Native Integration Capabilities within Snowflake Data Cloud
- OpenPipe Secures $6.7M in Seed Funding to Revolutionize Developer Access to Custom LLMs
March 28, 2024
- Elastic Announces 2023 Elastic Excellence Awards Winners
- Woolpert Acquires Ireland-Based Murphy Geospatial, a Leading European Geospatial Solutions Firm
- WiDS Livermore Conference Attendees Network, Share Research and Absorb Wisdom
- Observe Announces $115M In Series B Financing
- Lightning AI’s New Thunder Compiler Boosts AI Development Efficiency by 40%
- Intel Gaudi 2 Remains Only Benchmarked Alternative to NV H100 for GenAI Performance
- Appen Launches Solution for Enterprises to Customize LLMs
- MineOS Unveils AI Asset Discovery
- Cloudera Survey Reveals 90% of IT Leaders Believe that Unifying the Data Lifecycle on a Single Platform is Critical for Analytics and AI
- Snowflake Enhances Secure, Cross-Cloud Collaboration for High Value Business Outcomes with Snowflake Data Clean Rooms
- Domo Announces Winners of the 2024 Community Ovation Awards
March 27, 2024
- New MLPerf Inference Benchmark Results Highlight the Rapid Growth of Generative AI Models
- Qlik Advances Real-time Data Analytics with Solace PubSub+ Platform Integration
- Samsung Unveils Expanded CXL Memory Module Portfolio at Memcon 2024, Enhancing AI and HPC
- Celestial AI Closes $175M Series C Funding Round Led by US Innovative Technology Fund
- Databricks Launches DBRX: A New Standard for Efficient Open Source Models
- Astronomer Unveils New Capabilities in Astro to Streamline Enterprise Data Orchestration
- DataVisor Introduces Enhanced Anti-Money Laundering Solution to Support Financial Institutions
Most Read Features
Sorry. No data so far.
Most Read News In Brief
Sorry. No data so far.
Most Read This Just In
Sorry. No data so far.
Sponsored Partner Content
-
Supercharge Your Data Lake with Spark 3.3
-
Learn How to Build a Custom Chatbot Using a RAG Workflow in Minutes [Hands-on Demo]
-
Overcome ETL Bottlenecks with Metadata-driven Integration for the AI Era [Free Guide]
-
Gartner® Hype Cycle™ for Analytics and Business Intelligence 2023
-
The Art of Mastering Data Quality for AI and Analytics
Sponsored Whitepapers
Contributors
Featured Events
-
Data Universe
April 10 - April 11New York United States -
Call & Contact Center Expo
April 24 - April 25Las Vegas NV United States -
AI & Big Data Expo North America 2024
June 5 - June 6Santa Clara CA United States -
AI Hardware & Edge AI Summit 2024
September 10 - September 12San Jose CA United States