Confluent, which develops a cloud open source data streaming service, raised $125 million in funding, bringing its total valuation to $2.5 billion, the company said Wednesday.

The Series D funding round was led by Sequoia, with participation from its other major investors, Index Ventures and Benchmark, Confluent, Inc. CEO Jay Kreps said in a blog post. Total funding is now $206 million.

Figure 1: Photo by Nick Youngson CC BY-SA 3.0 Alpha Stock Images

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Confluent tracks enterprise "events," such as orders, sales and customer experiences that constitute the operation of the business, Kreps said. This complements data stores that contain historical data to create a complete picture of an organization's business. Confluent's event streaming platform is based on the open source Apache Kafka project, which the company founders created at LinkedIn, Kreps said. Customers include JPMorgan Chase, Capital One, Lyft and Audi.

Confluent's cloud service became generally available on Amazon Web Services Inc. and Google (Nasdaq: GOOG) in 2018, Kreps said.

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— Mitch Wagner Executive Editor, Light Reading