Finnish Cloud Database Firm Aiven Doubles Valuation to $2 Billion in Latest Funding

Finnish data management startup Aiven has more than doubled its valuation to $2 billion in a fresh fundraising just six months after its last funding, according to a person familiar with the matter, reflecting investor enthusiasm for the enterprise software sector.

Aiven raised $60 million in an extension of a Series C round in March in which the company raised $100 million at an $800 million valuation. That earlier valuation was roughly four times the company’s valuation of $191 million at the start of last year, according to PitchBook. Aiven builds software that helps businesses manage data on cloud platforms. Two of the firm’s existing investors, IVP and World Innovation Lab, led the latest funding, with participation from other previous investors such as Atomico.