Kong, a San Francisco, CA-based company developer of cloud API technologies, has raised $175 million in Series E funding, bringing its valuation to $2 billion.
Investors
The round was led by Tiger Global and co-led by new investor Balderton Capital. Other participants include Teachers' Venture Growth, 137 Ventures, and existing backers such as Andreessen Horowitz and Index Ventures. This brings Kong's total funding to $345 million.
Tiger Global Management, founded in 2001 and based in New York, is an investment firm focused on long-term investments in global public and private companies driven by technological innovation. Its public equity strategy targets high-quality growth companies, while its private equity business invests in companies at various stages, from early to late, across over 30 countries.
Balderton Capital is a multistage venture firm with over two decades of experience supporting Europe's top founders from Seed to IPO. The firm manages early and growth funds and invests across the technology sector.
Kong Use of Funds
The company will use the funding to expand globally, enhance AI-driven features across its platform, and invest in customer experience initiatives.
About Kong
Kong provider of cloud API solutions. Its unified API platform enables organizations to manage, secure, and monitor internal and external APIs. The company is on a mission to enable companies around the world to become "API-first" and securely accelerate AI adoption. Kong helps organizations globally — from startups to Fortune 500 enterprises.
Funding Details
Company: Kong Inc.
Raised: $175M
Round: Series E
Funding Date: November 2024
Lead Investors: Tiger Global, Balderton Capital
Additional Investors: Teachers' Venture Growth, 137 Ventures, Andreessen Horowitz, Index Ventures
Company Website: https://konghq.com/
Software Category: API Management
Source: https://www.prnewswire.com/news-releases/kong-secures-175-million-new-financing-at-2b-valuation-to-power-the-api-world-302309849.html