Event streaming technology startup Confluent has secured $250m in a Series E funding round, bringing the company’s value to $4.5bn.

Confluent, which is an event streaming data service built on the open-source Apache Kafka platform, enables companies to access data as real-time streams.

The funding round was led by Coatue Management and supported by Altimeter Capital and Franklin Templeton.

The company’s chief executive Jay Kreps wrote in a blog post: “Though new data technologies come and go, event streaming is emerging as a major new category that is on a path to be as important and foundational in the architecture of a modern digital company as databases have been.”

The company said traditional 24-hour updates from batch-processed data “cannot keep up with the speed and personalisation people demand”. It claims that data in motion, otherwise known as event streams, has become the basis of today’s digital experience.

Kreps added: “Today’s high expectations for on-demand services has given rise to a new data infrastructure paradigm where data is no longer just a static database of information.

“Event streaming has set the new standard for how data can be leveraged across an organisation as a continuous stream of real-time events. We’re looking forward to helping more companies put event streaming at the heart of their businesses to deliver the real-time, contextual experiences customers demand.”

Confluent, which launched in 2014, was created by the original founders of the Apache Kafka platform to allow companies to harness event streaming at scale.

The firm said it would also be announcing new capabilities or products on the first Wednesday of each month for the next eight months.

The round follow’s last year’s $125m funding round, which was led by Seqoia, and brings the firm’s total funding to $456m.