Finland’s Aiven raises USD 60 million at USD 2 billion in valuation

(Reuters) – Finland-based cloud software firm Aiven has raised USD 60 million from existing investors World Innovation Lab, IVP and Atomico, giving the firm a valuation of USD 2 billion, it said on November 2, 2021.

The funding round, an extension of the firm’s USD 100 million Series C announced seven months earlier, was initiated by one of its investors. The firm was last valued at USD 800 million.

“While we didn’t have an immediate need to raise more capital, we do want to stay ahead of the market and have ambitious plans for the future,” Chief Executive Oskari Saarenmaa said.

The company, with offices in Berlin, Boston, Helsinki, Sydney and Toronto, plans to enter more markets in Asia.

Aiven plans to go public in future but not in the next 18 months, Saarenmaa added.

“It has been clear to us since the beginning that we want to hold on to Aiven’s mission and vision as we grow, which means that the IPO route is the more likely choice,” he said.

Reporting by Supantha Mukherjee, European Technology & Telecoms Correspondent, based in Stockholm; Editing by Clarence Fernandez