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Timescale Raises $40M Series B as Cloud Adoption of Its Database AcceleratesToday, Timescale, the creators of TimescaleDB - the category-defining relational database for time-series - announced a $40 million Series B investment, led by Redpoint Ventures with participation from all existing investors: Benchmark, New Enterprise Associates, Icon Ventures, and Two Sigma Ventures. Satish Dharmaraj, Redpoint Managing Director, joins Timescale's board - and, combined with earlier rounds (2018, 2019), Timescale has now raised over $70 million. With the new infusion of capital, Timescale will continue to enable developers in all industries to measure everything that matters by investing in its suite of products, including its cloud-native relational database for time-series, new features to easily manage petabyte-scale deployments, and an observability platform for developers trying to keep track of a cloud-first world. This starts with an ambitious effort to execute 10+ launches throughout the month of May. "We've come a long way at Timescale, but our work is just beginning. Our goal is to build the world's next great database company. That means rapid innovation on new features, continued focus on the fundamentals of reliability, performance, and security, and unswerving dedication to the world's developers. We believe in the power of software developers to change the world - and Timescale delivers the foundational infrastructure to measure everything that matters in your business. From observability and large-scale web infrastructure to industrial IoT and financial services, Timescale helps you understand what is happening right now, how that is changing, and why that is changing." - Ajay Kulkarni, founder and CEO, Timescale Developers rely on Timescale to measure everything that matters in their world: software applications, industrial equipment, financial markets, blockchain activity, consumer behavior, machine learning models, climate change, and more. Analyzing this data across the time dimension (so-called "time-series data") enables organizations to understand what is happening right now and how that is changing. Since launching 4 years ago, the company has seen massive growth. Timescale users are pushing the envelope across every industry, and the vibrant Timescale community now runs over 2 million active databases every month. This growth has accelerated over the past year due to a combination of deliberate strategic decisions and larger macro tailwinds impacting the industry as a whole. To speed adoption, Timescale made its petabyte-scale TimescaleDB databases free for everyone (and made it easier for developers to modify and use TimescaleDB), leading the industry in commercializing open-source software. On a global level, time-series data is now ubiquitous - and the rapid growth of digital transformation initiatives in organizations across all industries and sizes makes Timescale an essential component of every cloud-based tech stack. Today, Timescale is available via free software, or as a managed service on AWS, Azure, and GCP. TimescaleDB is "Postgres for time-series", which means that it is a fully functional Postgres database that is also purpose-built for time-series data. Early in its history, Timescale made the decision to build on top of Postgres, one of the most popular and loved databases in the world. As a result, developers see multiple benefits: they can use full SQL, the universal language for data analysis; get the full spectrum of management and administration tools already available for Postgres; and integrate with any SQL-compatible visualization tools or custom software. In addition to the reliability, ease-of-use, SQL interface, and built-in extensibility of PostgreSQL, TimescaleDB gives developers orders of magnitude better performance - at a fraction of the cost - and a better developer experience. This includes:
In constant pursuit of its mission to serve developers, Timescale has increased its cadence of releasing new products and features, and will only increase this velocity going forward. Recent launches include:
Timescale is on a mission to help developers measure everything that matters, and, with today's announcement, Timescale continues to execute on an ambitious product roadmap, relentlessly focus on developer experience, and deliver the solutions organizations need to make sense of their most powerful asset: data. Customer Quotes:
ABOUT TIMESCALE: At Timescale, we are dedicated to serving developers worldwide, enabling them to build exceptional data-driven products that measure everything that matters: software applications, industrial equipment, financial markets, blockchain activity, consumer behavior, machine learning models, climate change, and more. Analyzing this data across the time dimension ("time-series data") enables developers to understand what is happening right now, how that is changing, and why that is changing. Timescale develops TimescaleDB, the category-defining open-source relational database for time-series data, and offers fully-managed TimescaleDB and related database services. Timescale is a remote-first company with a global workforce and is backed by Benchmark Capital, New Enterprise Associates, Redpoint Ventures, Icon Ventures, Two Sigma Ventures, and other leading investors. For more information, visit www.timescale.com or follow @TimescaleDB.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210505005641/en/ |
