Monday, May 27

Kong Raises $100 Million from Tiger Global & others

SAN FRANCISCO, Feb 10, 2021– Cloud connectivity platform Kong raises $100 million in Series D funding, led by Tiger Global Management with participation from existing investors Index Ventures, CRV, GGV Capital and Andreessen Horowitz as well as new investor Goldman Sachs.

The latest round brings Kong’s total funding to $171 million, tripling its valuation to $1.4 billion since the Series C round.

Kong will use the capital to scale its go-to-market operations, grow world-class Engineering and Customer Experience teams, and accelerate cloud connectivity with its new SaaS-based Kong Konnect service connectivity platform.

The fundraising follows a record year for Kong, marked by a significant increase in adoption of its flagship open-source software Kong Gateway now exceeding 220 million total downloads and 1.5 million monthly active instances. The company added key Global 2000 companies such as Deutsche Telekom, Orange, Papa John’s, and Siemens to its growing enterprise customer base, as well as tripled its small business and mid-market enterprise customers. In addition, Kong was recognized as an Inc. 5000 company and a Deloitte Technology Fast 500 company with 1,908% revenue growth over a three-year period.

“In 2020, we saw an explosion of data in motion and services as companies fast-tracked the release of new digital experiences in response to the pandemic,” said Augusto Marietti, CEO and co-founder of Kong Inc. “Software is truly becoming like a giant nervous system through millions of APIs and services. Kong is on a mission to become the spinal cord and backbone by building the cloud connectivity fabric of the future.”