Kong Tops $100 Million in Annual Recurring Revenue

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Dec 13, 2023, 09:00 ET

Adoption of the Company's Cloud-Native Unified API Platform and Global Expansion Fuels Growth

SAN FRANCISCO, Dec. 13, 2023 /PRNewswire/ -- Kong Inc., a leading developer of cloud API technologies, today announced it has surpassed $100 million in annual recurring revenue. The company's success is the result of a commitment to product excellence, a laser-focus on the user and customer experience, and the growing popularity of Kong Konnect, its unified cloud API platform, which helps organizations unleash developer productivity and accelerate time to market. Moreover, a significant tailwind to the company's growth has been a decade-long shift in how enterprise software systems are built and deployed, from traditional monolithic applications to modern, distributed cloud native microservices architectures. Additional drivers include mobile apps, Internet of Things (IoT), as well as the adoption and proliferation of Blockchain, Web 3 and a new generation of AI technologies. This transition from "monolithic" software systems, along with the rapid adoption of these new innovations, aligns well with Kong's mission, which is to enable every company to become API-first.

"When we founded the company over a decade ago, we had a vision that APIs would power every application behind the scenes. A central nervous system of sorts. So while surpassing $100 million represents an enormous milestone for our business, that vision is just starting to come to pass. We're building Kong to be a generational company given the long horizon of opportunity ahead," said Augusto Marietti, CEO and co-founder of Kong Inc. "Also, it's important to recognize that our accomplishments come from our people and our relentless focus on delivering the best API technology to our user community and our customers. I couldn't be prouder of our team today."

Originally founded under the name Mashape in 2009 and spun out as Kong Inc. in 2017, the company currently has more than 500 global employees and operates in over 35 countries. Most recently, Kong also launched a joint venture with Japan Cloud to support the growing adoption of its platform in Japan, the world's third-largest economy. Kong's products range from open-source offerings to enterprise-grade software that has been adopted by more than 600 organizations, ranging from early-stage start-ups to Global 2000 companies.

"APIs drive over 80% of global internet traffic, and our contemporary world simply wouldn't exist without them. Whether we're traveling, using apps on our smartphones, managing our finances, receiving our salaries, or experiencing AI's interactions with the world – it's APIs that power these connections. APIs enable organizations around the world to build compelling digital experiences that delight customers, and allow them to leverage modern platforms to accelerate customer adoption, grow their revenue and continuously innovate," said Marco Palladino, CTO and co-founder of Kong Inc. "At Kong, our commitment is to provide the best API platform technologies to the builders and the architects of this modern API world."

"The Kong team's commitment to pushing boundaries and setting industry standards is why we first invested in them, and we're glad to see that this is as fresh today as it was 10 years ago," said Martin Casado, General Partner at Andreessen Horowitz. "We're quite happy to have been early investors and partners to the Kong founding team. Augusto and Marco are world-class operators and have built a world-class team. We're looking forward to their continued success."

Kong's industry accolades have continued to grow over the years. These awards and recognitions include:

In addition, Kong has attracted investment from a roster of top-tier venture capital firms, including Index Ventures, CRV, and Andreessen Horowitz and GGV. The quality of Kong's backers and their continued support helps cement the strength of Kong's vision and continued growth trajectory.

About Kong Inc.

Kong Inc., a leading developer of cloud API technologies, is on a mission to enable companies around the world to become "API-first." Kong helps organizations globally — from startups to Fortune 500 enterprises — unleash developer productivity, build securely and accelerate time to market.

For more information about Kong, please visit www.konghq.com or follow us on X @thekonginc.

SOURCE Kong Inc.