Kong raised $100 million in a series funding round. The round led by Tiger Global was participated by a new investor, Goldman Sachs along with the existing investors like Index Ventures, Andreessen Horowitz, CRV, and GGV Capital. This current rise has tripled the company valuation, which now amounts to $1.4 billion.
Kong Konnect, a full-stack service connectivity platform, has been designed from the scratch for cloud-native applications. With this, the developers, architects, and DevOps can seamlessly deliver reliable connectivity via a single control plane. This current funding round marks a major milestone for the company. It was much awaited as there has been a significant increase in key Global 2000 customers. Even the open-source platform offered by the company, Kong API gateway, has exceeded a milestone of 220 million downloads. Overall, the community is growing substantially, and Kong is expected to be at the forefront of the growth.
This current raise has tripled the valuation of the company which now amounts to $1.4 billion. The funding will enable Kong to scale up its go-to-market operations. This will lead to the need of doubling the engineering to further the support offered to the customers. This will even ease out the process of building connectivity fabric with the cloud-based service connectivity platform offered by Kong Konnect. The company is also moving to microservices and multi-cloud workloads to address cloud connectivity challenges more effectively.
In other words, Kong is acting as a central spine in empowering digital connections. In the future, more and more companies will migrate to the cloud. In the coming years, Kong is aimed at building new and efficient digital experiences that can surpass the challenges of a reliable connection that can connect more data within humans, services as well as machines.