Redpanda has launched Redpanda Serverless, a fully managed version of its streaming platform that aims to allow customers to control costs by only paying for what they use.

Redpanda says the new serverless version is designed to help developers get started with streaming data quickly and scale up or down their usage depending on workload. It also includes full API compatibility from Apache Kafka, with no code changes required to make sure it works with the open source streaming data storage and processing system.

“Developed from the ground up for massive versatility, speed and performance, Redpanda Serverless is the most cost-effective and easiest way to get started with streaming, whether you’re a developer just starting out or an expert in a large enterprise,” says Alex Gallego, CEO and founder of Redpanda.

With Redpanda Serverless, developers will be able to take advantage of Redpanda’s streaming ecosystem to create new applications in real time.

Redpanda also offers a self-hosted Redpanda Enterprise and a freely available Redpanda Community edition.