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Investment in cloud API technologies: Kong and its expansion plans
San Francisco-based startup Kong has raised US$175 million in funding. The funds were raised in a Series E funding round. The investors were interested in cloud-based API technologies based on artificial intelligence.
Kong is one of the leaders in the cloud API space. The Series E round included both primary and secondary transactions. Leaders were Tiger Global and Balderton, as well as OTPP and 137 Ventures. The company also received support from existing investors, including Andreessen Horowitz, Index Ventures and CRV. Their support brought Kong’s total funding to US$346 million. The startup’s valuation now stands at US$2 billion.
According to co-founder Augusto Marietti, the investment received will help develop the product. The company’s main goals include:
- helping companies to use the product;
- expanding the capabilities of the API platform;
- implementing API-first and improving security;
- supporting the organisation of activities for small and large businesses.
It is worth noting that there has been a recent increase in demand for APIs. This is due to the introduction of artificial intelligence into various processes, and such trends are contributing to increased interest in Kong and its products. The company is introducing innovative solutions to enhance cloud API capabilities.
Product relevance
AI Large Language Models (LLMs) deserve special attention in this context. They enable the rapid deployment of intelligent applications for a wide range of tasks, giving companies a powerful, multifunctional tool for implementing new approaches.
Unified platforms have proven to be indispensable tools for companies in different sectors. They optimise the digital experience and facilitate technology integration into business processes. Kong’s solution is a secure and efficient API management platform. It provides companies with fast time to market and automation of operations.
In the near future, the startup plans to expand its operations globally. To this end, the company is increasing its engineering staff and attracting new customers. One of the company’s key tasks is to implement AI into more of the platform’s functionalities. At the same time, Kong is paying special attention to security issues when deploying applications.
Investors praise the startup’s potential in the cloud API market. Kong shows rapid growth and development of its own product. The company does not rest on its laurels but continues to improve its approach, helping it to remain a leader in the industry for a long time. Moreover, Kong has every chance to set new standards for critical digital infrastructure.