The pandemic may feel all-encompassing at the moment, but Confluent announced a $250 million Series E today, showing that major investment continues in spite of the dire economic situation at the moment.

Today’s round follows last year’s $125 million Series D. At that point the company was valued a mere $2.5 billion. Investors obviously see a lot of potential here.

Coatue Management led the round with help from Altimeter Capital and Franklin Templeton. Existing investors Index Ventures and Sequoia Capital also participated. Today’s investment brings the total raised to $456 million.

The company is based on Apache Kafka, the open source streaming data project that emerged from LinkedIn in 2011. Confluent launched in 2014 and has gained steam, funding and gaudy valuations along the way.

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