Berlin-based Immerok, the developer of a serverless Apache Flink cloud platform, announced on Monday that it has secured $17M (approximately €17.4M) in a Seed round of funding led by CUSP Capital, 468 Capital, Cortical VC, and Essence VC.
Apache Flink co-creator Stephan Ewen and several angel investors also participated in the round.
“The future of Apache Flink is in good hands with Immerok,” says Stephan Ewen, co-creator of Apache Flink. “I spent many years working with the Immerok co-founders. They have deep knowledge of stream processing and cloud-native computing, they build excellent technology, and they love working with the community of Flink users. I’m excited to be working with them as an advisor.”
Fund utilisation
Immerok says it will use the funds to build and launch its fully-managed cloud service for Apache Flink that is now available to Early Access Program users on AWS.
The German company says it will also use the funds to expand its support to other cloud platforms and grow its team from 20 to 30 by the year’s end.
“Businesses today differentiate themselves by data, so the most strategic IT initiatives right now centre around data-intensive applications to support AI/ML models as well as real-time and predictive analytics,” says Holger Temme, Co-founder and CEO of Immerok.
Immerok: What you need to know
Immerok was founded by Apache Flink experts David Moravek, Holger Temme, Johannes Moser, Konstantin Knauf, Piotr Nowojski, and Timo Walther in 2022. The company has built a fully managed Apache Flink cloud service for real-time stream processing applications at any scale.
Temme adds, “Until now, organisations have required specialists to build, operate, and scale those streaming applications—expensive and scarce specialists. Immerokwill makes it easy for organisations to build modern real-time systems by closing the gap between stream processing and cloud-native applications.”
Apache Flink is an open-source stream processing and batch processing framework developed by Apache Software Foundation. It provides a high-throughput, low-latency streaming engine and support for event-time processing and state management.
Currently, Apache Flink powers the world’s largest real-time e-commerce, entertainment, and financial services systems.
The German company’s service will enable anyone to leverage the full power of Flink to meet a range of real-time business needs, from fast data pipelines and user-facing analytics to real-time ML/AI and transaction processing.
The Immerok team is distributed across the US and EU, and is backed by leading investors and IT industry executives.
Investors
Cusp Capital is a venture capital firm that makes early-stage investments in companies leading in software and sustainability.
“Using AI to create new real-time customer experiences and increase operational efficiency is at the top of nearly every business leader’s technology agenda today,” says Jan Sessenhausen, General Partner at Cusp Capital. “To achieve this, companies require the power to process massive amounts of data in real-time, nonstop cost-effectively. Immerok has the vision, team, and technology to make this a reality for organisations of all types and sizes.
468 Capital is a Berlin and San Francisco-based technology investment firm. The VC supports leading software, AI, and internet growth companies across multiple investment stages. Earlier this year, the VC also participated in Munich-based online delivery platform Arive’s $20M Series A round in January.
“Demand for streaming analytics applications is booming,” says Florian Leibert with 468 Capital. “We are excited to be working with Immerok and are confident they are the right team to bring real-time computing into the mainstream to help businesses revolutionise how they operate.”
