Timescale Raises $16M in Series A + Seed
NEW YORK, NY, Timescale has raised $12.4M in a Series A financing led by Benchmark.
FROM TIMESCALE SITE: Today we are excited to announce that Timescale has raised $12.4M in a Series A financing led by Benchmark, with participation from NEA, Two Sigma Ventures, and prominent angels, including the CEOs/founders of Hortonworks, Cloudflare, Data Domain, Nicira, Barefoot Networks, Grand Central Tech, Right Media, Moat, Segment, and Cockroach Labs.
Combined with our earlier (never before announced) $3.7M Seed financing led by NEA, Timescale now has raised over $16M to address what we believe is one of the largest challenges (and opportunities) in databases for years to come: helping developers, businesses, and society make sense of the data that our machines are generating in copious amounts.
With this financing, Benchmark's Peter Fenton will join NEA's Forest Baskett and co-founders Ajay Kulkarni and Mike Freedman on the Timescale Board of Directors.
A new database for the machine era
Today we live with machines. Computers are nearly ubiquitous, embedded in our vehicles, our manufacturing lines, our farms, our power plants, our homes, even in our bodies. As a result, businesses are swimming in machine data. And if we want these machines to truly make our lives more productive, more convenient, and more enjoyable, then we need a way to properly make sense of all that machine data.
We realized that this problem needed a new kind of database, and so we built TimescaleDB: the first open-source time-series database designed for scalability and complex analysis.
TimescaleDB solves this problem with a unique approach. First, it employs automatic space-time partitioning to seamlessly scale for time-series workloads. But at the same time, TimescaleDB is packaged as a Postgres extension, enabling it to inherit the reliability, tooling, and vast ecosystem of Postgres. (It does this while sustaining 20x higher inserts than Postgres, with more benchmarking comparisons here.)
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