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Kong Revenue, Valuation, Funding & Investors
Kong is valued at $2B as of November 2024, a 20.0x multiple on its last reported $100M revenue.
Last Kong valuation
$2B
Series E · Nov 2024
Last Kong funding round
$175M
Series E · Nov 2024
Kong revenue
$100M
Series E · Nov 2024
Key investors in Kong
Index Ventures
CRV
Andreessen Horowitz
Notable Capital
Tiger Global
Goldman Sachs
About Kong
Kong is an Austin-headquartered cloud connectivity company building open-source API gateways and service meshes. Its platform secures, governs, and scales APIs for enterprises like Cisco and Snap, supporting microservices in Kubernetes environments. Kong Konnect provides hybrid cloud management across data centers and AWS.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$100M (Nov 2024)
Valuation
$2B (Nov 2024)
Kong Valuation
Kong is currently valued at $2B, based on its Series E in November 2024.
The $175M round was led by Balderton Capital and Tiger Global, with participation from 137 Ventures, Index Ventures, Andreessen Horowitz, Sapphire Ventures, Teachers’ Venture Growth and 2 other investors.
Kong's valuation has grown 1.4x from $1.4B at its Series D in February 2021 to $2B in November 2024, across 2 priced rounds.
Kong valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Nov 2024 | Series E | $2B | 20.0x |
| Feb 2021 | Series D | $1.4B | - |
Kong Revenue
Kong's latest recorded revenue is $100M, as of its Series E in November 2024. At a $2B valuation, that implies a 20.0x revenue multiple.
Kong revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Nov 2024 | $100M | $2B | 20.0x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Kong Funding History
Kong has raised a total of $343M across 5 funding rounds.
Kong's first fundraising round was a $7M Series A in November 2013. The most recent completed round was a $175M Series E in November 2024.
Kong funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Nov 2024 | Series E | Balderton Capital (lead); Tiger Global (lead); 137 Ventures; Index Ventures; Andreessen Horowitz; Sapphire Ventures; Teachers’ Venture Growth; CRV; Notable Capital | $175M | $2B | Kong Inc. is a San Francisco-based developer of cloud API technologies providing a unified API platform that enables organizations to build AI applications while ensuring centralized API security, governance, and visibility across all services. The company's product portfolio includes Kong Gateway, Kong Mesh, Konnect, and Insomnia, along with AI-infused capabilities through its AI Gateway offering. Kong closed a Series E funding round on November 19, 2024, raising $175 million in a mix of primary and secondary transactions at a $2 billion post-money valuation. The round was led by Tiger Global and co-led by Balderton Capital, with additional participation from Teachers' Venture Growth (the late-stage growth arm of Ontario Teachers' Pension Plan), 137 Ventures, and continued support from existing investors including Andreessen Horowitz, Index Ventures, CRV, Sapphire Ventures, and Notable Capital. This brought Kong's total capital raised to $345 million. The company will use the new funds to accelerate global go-to-market expansion, enhance product innovation with AI-infused capabilities across its platform, and invest in customer experience teams. Kong's valuation increased from $1.4 billion in its previous Series D round in early 2021, which had raised $100 million. The company represents Kong's strategic positioning to serve the growing global demand for robust API solutions as organizations increasingly adopt AI at scale. |
| Feb 2021 | Series D | Tiger Global (lead); Index Ventures; Goldman Sachs; Andreessen Horowitz; CRV; Notable Capital | $100M | $1.4B | Kong Inc., a San Francisco-based cloud connectivity company offering an open-source API gateway and service mesh platform like Kong Gateway and Kong Konnect, closed a $100 million Series D funding round on February 8, 2021, led by Tiger Global Management with participation from Goldman Sachs, Index Ventures, CRV, GGV Capital, and Andreessen Horowitz. This round valued the company at $1.4 billion post-money, tripling its valuation from the prior Series C and bringing total funding to $171 million. The capital was allocated to scale go-to-market operations, expand engineering and customer experience teams, and accelerate cloud connectivity through its SaaS-based Kong Konnect service. Kong, originally spun out from Mashape in 2017 and founded by Augusto Marietti and Marco Palladino, serves enterprises building cloud-native applications, with customers including major firms relying on its API management tools. This 2021 round matches the specified investors and lead, distinguishing it from Kong's prior raises and a later 2024 Series E at $2 billion valuation led by Tiger Global and Balderton, which raised $175 million in primary and secondary sales, bringing total funding to $345 million. |
| Mar 2019 | Series C | Index Ventures (lead); World Innovation Lab; Andreessen Horowitz; CRV; Notable Capital | $43M | - | Kong Inc., the leading API and service lifecycle management platform for modern architectures (previously known as Mashape), announced a $43 million Series C funding round on March 28, 2019, led by Index Ventures with participation from Andreessen Horowitz, CRV, GGV Capital, and World Innovation Lab. This brought total funding to $71 million. The round followed record growth in 2018, including a significant year-over-year increase in bookings, doubled headcount, over 100 Enterprise customers such as Yahoo! Japan, Ferrari, SoulCycle, and WeWork, and more than 54 million downloads of its open-source Kong API platform. Kong plans to use the proceeds to develop the industry's first service control platform acting as the nervous system for modern software architectures, brokering information across services in multi-cloud, hybrid, and on-prem environments. Investments will focus on international expansion into Asia Pacific and Europe, enhancing go-to-market capabilities, growing the open-source community, and adding features like security and machine learning-driven intelligence. The company, launched in August 2017, positions itself at the center of the microservices migration trend with over 75 million open-source downloads and 110+ Enterprise customers at the time. Investors highlighted Kong's evolution into a market leader in open-core development. Index Ventures' Mike Volpi noted its potential as the dominant player, while GGV Capital emphasized its role in scalable app development. Kong aims to expand beyond API management into full end-to-end service lifecycle management, targeting Global 5000 enterprises amid rising demand for API governance in microservices architectures. |
| Mar 2017 | Series B | Andreessen Horowitz (lead); Index Ventures; CRV | $18M | - | - |
| Nov 2013 | Series A | CRV (lead); Index Ventures (lead); Innovation Endeavors; Stanford University; Jeff Bezos | $7M | - | Kong raised $8.5 million in its Series A round on November 21, 2013, with participation from CRV, Index Ventures, Stanford University, Jeff Bezos, and Innovation Endeavors. CRV and Index Ventures served as lead investors. This marked Kong's first major institutional funding as an open-source API gateway provider. Kong develops the popular open-source Kong API Gateway and enterprise solutions for API and microservices management. The company, founded in 2012 and headquartered in San Francisco, powers scalable applications in industries including travel, transportation, and space. Subsequent rounds included a $43 million Series C in 2019 led by Index Ventures with CRV participation, bringing total funding to $71 million at that time. Later financings reached a $2 billion valuation in a $175 million Series E in 2024, with cumulative funding exceeding $451 million. |
Who has invested in Kong?
14 investors have backed Kong across its funding rounds, including Index Ventures, CRV, Andreessen Horowitz, Notable Capital, Tiger Global and Goldman Sachs.
Lead investors include Balderton Capital, Tiger Global, Index Ventures, Andreessen Horowitz and CRV.
Kong Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Nov 2013 | ||
| 5 | Lead | Nov 2013 | ||
| 4 | Lead | Mar 2017 | ||
| 3 | Participant | Mar 2019 | ||
| 2 | Lead | Feb 2021 | ||
| 1 | Participant | Nov 2024 | ||
| 1 | Lead | Nov 2024 | ||
| 1 | Participant | Nov 2013 | ||
| 1 | Participant | Mar 2019 | ||
| 1 | Participant | Nov 2013 | ||
| 1 | Participant | Nov 2013 | ||
| 1 | Participant | Feb 2021 | ||
This data is available for Pro users. Sign up to see all 14 Kong investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Kong
Kong has acquired 3 companies to date.
Last acquisition by Kong was on September 3rd 2025. Kong acquired OpenMeter for undisclosed valuation.
Latest Acquisitions by Kong
| Description | OpenMeter is a Berlin-based open-source metering infrastructure that enables usage-based billing for cloud resources including Kubernetes clusters, S3 storage, databases, and API calls. It processes billions of meter events monthly with sub-second latency and supports integrations with Stripe, AWS, and Google Cloud. Launched in 2023, OpenMeter provides vectorized usage aggregation and customer dashboards for SaaS companies handling AI workloads and infrastructure consumption. | Insomnia is a cross-platform API client for designing, testing, and debugging REST, GraphQL, and gRPC requests. Developed by Kong, it supports reusable API keys, OAuth tokens, and environment variables for switching between development, staging, and production setups. Available on Windows, macOS, Linux, and via browser plugin, Insomnia includes request chaining, response mocking, and plugin extensibility. Acquired by Kong in 2021, it serves over one million developers worldwide. | Gelato.io is a developer tool that simplifies API documentation and management through an interactive portal. It streamlines publishing, versioning, and collaboration on API specs, supporting OpenAPI formats for teams building and maintaining web services. |
| HQ Country | |||
| HQ City | San Francisco, CA | San Francisco, CA | San Francisco, CA |
| Deal Date | 3 Sep 2025 | 2 Oct 2019 | 22 Oct 2015 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Kong acquisitions and their M&A valuation multiples. Start Free Trial | |||
Kong Competitors
Kong competitors include listed companies like UCloud Technology and VNET Group, and private ones like Aviatrix, Druva, Netlify and Pantheon.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $40M | - | $2B | 50.0x | ||
| Private | $100M | - | $2B | 20.0x | ||
| Private | - | - | $2B | - | ||
| Private | - | - | $2B | - | ||
| Publicly listed | $253M | $31M | $2B | - | ||
| Publicly listed | $1.5B | $463M | $1.7B | 3.7x |
Kong Public Comps
Kong is still privately-owned, but its public comps include ESDS Software, SharonAI, UCloud Technology, VNET Group, C3.ai, Nava, SoftwareOne, Anterix, Boost Run and Richinfo Technology.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $49M | $25M | 38.3x | 13.8x | 76.7x | 56.6x | |||
| $2M | ($36M) | 752.3x | 13.7x | (32.7x) | 46.2x | |||
| $253M | $31M | 7.7x | - | 63.2x | - | |||
| $1.5B | $463M | 4.1x | 3.7x | 13.2x | 11.8x | |||
| $250M | ($484M) | 4.3x | 4.5x | (2.2x) | (6.2x) | |||
| $445M | $192M | 3.8x | - | 8.8x | - | |||
| $1.5B | $191M | 2.0x | 1.6x | 15.9x | 7.2x | |||
| $7M | ($29M) | 216.3x | 103.4x | (47.7x) | (46.7x) | |||
This data is available for Pro users. Sign up to see all Kong competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kong
| When was Kong founded? | Kong was founded in 2017. |
| Where is Kong headquartered? | Kong is headquartered in San Francisco, CA, United States. |
| Is Kong publicly listed? | No, Kong is a private, VC-backed company. |
| What is Kong's valuation? | Kong was last valued at $2B in its Series E in November 2024. |
| How much funding has Kong raised? | Kong has raised $343M across 5 funding rounds. |
| What was Kong's last funding round? | Kong's last funding round was a $175M Series E in November 2024, led by Balderton Capital and Tiger Global. |
| Who are Kong's investors? | Kong's investors include Index Ventures, CRV, Andreessen Horowitz, Notable Capital, Tiger Global, 137 Ventures, Balderton Capital, Innovation Endeavors, World Innovation Lab, Stanford University and 4 others. |
| What is Kong's revenue? | Kong's latest recorded revenue is $100M (November 2024). |
| What is Kong's revenue multiple? | Kong's latest valuation implies a 20.0x revenue multiple ($2B valuation on $100M of revenue). |
| Which companies are comparable to Kong? | Companies comparable to Kong include Aviatrix, Druva, Netlify, Pantheon, UCloud Technology and VNET Group. |
| How many companies has Kong acquired? | Kong has acquired 3 companies, including OpenMeter, Insomnia and Gelato.io. |
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