- Kong affords a cloud-based API, the pipes by which a lot of the web flows.
- The startup is valued at round $2 billion in a brand new funding spherical led by Tiger Global Management, sources say.
Kong, which affords cloud-based utility programming interfaces, is valued at round $2 billion in a brand new funding spherical led by Tiger Global Management, in accordance with two sources accustomed to the matter.
The sources requested to stay nameless as a result of they had been sharing confidential info. Kong didn’t reply to a request for remark. Tiger Global declined to remark.
Kong final raised $80 million in Series D funding in 2020, which valued the startup at $1.4 billion. This spherical was additionally led by Tiger, in accordance with Pitchbook information. Sapphire Ventures, Lombardstreet Ventures, Index Ventures, CRV, Andreessen Horowitz, and Notable Capital additionally participated in that spherical. Other previous traders embody Goldman Sachs. All advised, the corporate has raised $268 million, excluding this newest spherical of funding.
Founded in 2009 as Mashape in an Italian storage by Augusto “Aghi” Marietti and Marco Palladino, Kong spun out in 2017 and boasted of getting over $100 million in annual recurring income final 12 months.
APIs are the pipes by which a lot of the trendy web flows, and Kong counts PayPal, Nasdaq, and Volvo amongst its prospects.
“It’s mainly change into the nervous system of the web,” Marietti advised BI final 12 months.
Last week, Tiger Global additionally doubled down on OpenAI, investing within the ChatGPT maker’s huge new $6.6 billion funding spherical.
