Timescale raises $ 40 million for Series B as its cloud database adoption accelerates
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With over $ 70 million in funding and over 2 million active databases, Timescale continues to lead the time series data category and empowers developers to store, analyze, and measure everything that matters. Time-series data is everywhere, and capturing it is essential for the modern digital business.
NEW YORK – (BUSINESS WIRE) – Today, Timescale, the creators of TimescaleDB – the relational category-defining database for time series – announced a $ 40 million investment in Series B, led by Redpoint Ventures with the participation of all existing investors: Benchmark, New Enterprise Associates, Icon Ventures and Two Sigma Ventures.
Redpoint CEO Satish Dharmaraj joins Timescale’s board – and, combined with previous rounds (2018, 2019), Timescale has now raised over $ 70 million.
With the new capital injection, Timescale will continue to enable developers across 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 manage easily petabyte scale deployments. , and an observability platform for developers trying to keep up with a cloud-centric world. It starts with an ambitious effort to run more than 10 launches throughout the month of May.
“We’ve come a long way at Timescale, but our work is only just beginning. Our goal is to create the next great database company in the world. This means rapid innovation in new features, a continued focus on the fundamentals of reliability, performance and security, and unwavering dedication to developers around the world. We believe in the power of software developers to change the world – and Timescale provides the basic infrastructure to measure everything that matters in your business. From large-scale observability and web infrastructure to industrial IoT and financial services, Timescale helps you understand what’s going on right now, how it’s changing, and why it’s 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 through the time dimension (called “time series data”) allows organizations to understand what is happening now and how it is changing.
Since its launch 4 years ago, the company has experienced massive growth. Timescale users are pushing the boundaries in every industry, and the vibrant Timescale community now maintains more than 2 million active databases every month.
This growth has accelerated over the past year due to a combination of deliberate strategic decisions and strong macro tail winds that are impacting the industry as a whole. To accelerate adoption, Timescale made its petabyte-scale TimescaleDB databases free for everyone (and made it easier for developers to modify and use TimescaleDB), the industry leader in commercializing open source software. . Globally, time-series data is now ubiquitous – and the rapid growth of digital transformation initiatives in organizations of all industries and sizes makes Timescale a vital part of any cloud-based technology stack.
Today, Timescale is available through free software or as a managed service on AWS, Azure, and GCP.
TimescaleDB is “Postgres for Time Series” which means it is a fully functional Postgres database which is also specially designed for time series data. Early in its history, Timescale made the decision to rely on Postgres, one of the world’s most popular and beloved databases. As a result, developers see many benefits: they can use full SQL, the universal language for data analysis; obtain the full range of management and administration tools already available for Postgres; and integrates with any SQL compatible viewer or custom software.
Along with PostgreSQL’s reliability, ease of use, SQL interface, and built-in extensibility, TimescaleDB offers developers better performance – at a fraction of the cost – and a better development experience. This includes:
- Massive scale, store hundreds of billions of rows of data and insert millions of values per second on a single server – or achieve petabyte scale and over 10 million inserts per second on multiple servers.
- 95% + native compression via the best compression algorithms.
- 10 to 100 times faster queries as PostgreSQL, Amazon Timestream, InfluxDB, Cassandra and MongoDB.
- Flexible deployment options, from a completely free self-managed offering to a fully managed service on AWS, Azure and GCP.
In steadfast pursuit of its mission of serving developers, Timescale has increased its rate of releasing new products and features, and will only increase that rate in the future. Recent launches include:
- DB multi-node timescale – for petabytes, higher insertion rates and faster queries (February 2021)
- tobs – command line tool to deploy a full observability suite for Kubernetes in two minutes (February 2021)
- New analytical functions that extend SQL to perform time series analyzes, including monotonic counters, graphing, statistical sketching, and pipelining tools (January 2021)
- Promscale, an analytical platform and long-term store for Prometheus, with the combined power of SQL and PromQL (October 2020)
- A more liberal software license, which made all of our business features free and added the right to repair and the right to upgrade (September 2020)
- Fully managed multi-cloud service available on AWS, Azure and GCP in over 75 regions (August 2020)
Timescale is on a mission to help developers measure everything that matters and, with today’s announcement, Timescale continues to execute an ambitious product roadmap, relentlessly focusing on the developer experience. and deliver the solutions organizations need to make sense of their most powerful asset: Data.
“We build immersive and interactive games powered by AI – and with over 1.5 million active players on AI Dungeon every month, we generate billions of rows of event data. Three major factors have made TimescaleDB our “winning” database: ease of use, flexibility and performance, even at extremely high volumes. TimescaleDB gives us fast real-time analytics, millisecond query results and the scale we need, now and as our user base continues to grow. ”
– Alan Walton, CTO, Latitude
“We ingest data from thousands of sensors in TimescaleDB, then communicate it to our customers through dashboards, charts and automated alerts. Other time series databases would require us to group metrics into JSON blobs (which would make it difficult to work with the database) or store each metric separately (forcing heavy and slow joins for most purposes). requests of interest). TimescaleDB was an easy choice as it allows us to duplicate Postgres, which we already liked to use for metadata on our packet streams. ”
– Clayton Yochum, Senior Engineer, Cloud Platform, Everactive
“Timescale Cloud is a great place to start working with time series data, and I highly recommend it to developers. With Timescale Cloud, you can tailor the system to your needs in terms of scale and flexibility… the possibilities are endless! It is truly cutting edge technology that has accelerated our mission to master the environmental data space. ”
– Kshitij Purwar, Technical Director, Blue Sky Analytics
“ We enable water utilities around the world to understand and optimize the performance of their networks, and we are constantly collecting an immense amount of data going back years, with an estimate of 3TB + in just one year. next. We love TimescaleDB for two main reasons: the PostgreSQL element makes it user-friendly and transparent to use, and it helps us optimize costs as we accumulate an ever-increasing amount of metrics from organizations around the world. ”
– Nikolay Tsvetinov, Head of Backend Platform and DevOps, Inflowmatix Limited
At Timescale, we’re committed to serving developers around the world, enabling them to create exceptional data-driven products that measure all that matters: software applications, industrial equipment, financial markets, blockchain activity, consumer behavior, machine learning models, climate change, etc. Analyzing this data through the time dimension (“time series data”) allows developers to understand what is happening now, how it is changing, and why it is changing. Timescale develops TimescaleDB, the open source relational category-defining database for time series data, and offers fully managed TimescaleDB and associated database services. Timescale is a remote business 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.
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