SAN FRANCISCO –– Kong Inc., developer of an API and service lifecycle management platform, has raised $43 million in Series C financing, led by Index Ventures with participation from existing investors Andreessen Horowitz (a16z) and Charles Rivers Ventures (CRV), as well as new investors GGV Capital and World Innovation Lab (WiL).
Kong said it has seen a significant increase in year-over-year bookings, doubled headcount, reached 100 Kong Enterprise customers, including Yahoo! Japan, Ferrari, SoulCycle and WeWork, and hit more than 54 million downloads of open source Kong. With the Series C, Kong has now raised $71 million to date.
Kong will use the funds to deliver the industry’s first service control platform that acts as the nervous system for an organization’s modern software architectures by intelligently brokering information across all services. The company will also invest in international expansion including Asia Pacific and Europe, build out its go-to-market capabilities and team to support increasing demand for Kong technology, and grow the Kong open source community.
“It’s been a privilege to work with Kong and its fantastic team, and see them evolve from a small company to a market leader, with the potential to become the 800-pound gorilla in open core development,” said Mike Volpi, partner at Index Ventures. “While Kong has enjoyed a lot of success to date, the microservices evolution is still in its early innings. Thousands upon thousands of applications will have to migrate to a microservices architecture, and Kong is at the epicenter of this movement.”
The way software is created is undergoing a revolution as Global 5000 organizations transition to new, distributed software architectures for modern applications that demand massive scalability, cross-platform support and the ability to process real-time streams of data in motion. By 2022, IDC predicts 90 percent of all new applications will feature microservices architectures and leverage third-party code, and 35 percent of all production applications will be cloud-native. An estimated 500 million new logical applications will be created between 2018 and 2023, fueled by rapid adoption of containers and agile methods.
The Kong Service Control Platform is designed for the modern era of software development and seamlessly connects APIs and microservices across cloud-native, hybrid, and on-prem environments to make it easy for developers to create scalable, microservice applications that drive business growth. Powered by a high-performance, open source core and enhanced with artificial intelligence (AI) and machine learning, the Kong Service Control Platform will enable end-to-end service lifecycle management – from pre-production to post-production – to support customers building and managing innovative products and services.
“Kong’s mission is to solve one of the biggest technical challenges in the 21st century by delivering a platform that intelligently connects and secures data in motion at a massive scale, with optimum performance and reliability,” said Augusto Marietti, CEO and co-founder of Kong Inc. “This funding will allow us to continue to help Global 5000 companies transform themselves into digital enterprises as they shift away from monolith legacy systems towards decentralized, hybrid, and multi-cloud architectures.”