{"id":24193,"date":"2021-05-06T05:34:01","date_gmt":"2021-05-06T05:34:01","guid":{"rendered":"https:\/\/rbsitsoftwaresolution.com\/blog\/timescale-grabs-40m-series-b-as-it-goes-all-in-on-cloud-version-of-time-series-database.html"},"modified":"2021-05-06T05:34:01","modified_gmt":"2021-05-06T05:34:01","slug":"timescale-grabs-40m-series-b-as-it-goes-all-in-on-cloud-version-of-time-series-database","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/timescale-grabs-40m-series-b-as-it-goes-all-in-on-cloud-version-of-time-series-database.html","title":{"rendered":"Timescale grabs $40M Series B as it goes all in on cloud version of time series database"},"content":{"rendered":"

Timescale<\/a>, makers of the open-source TimescaleDB time series database, announced a $40 million Series B financing round today. The investment comes just over two years after it got a $15 million Series A<\/a>.<\/p>\n

Redpoint Ventures led today\u2019s round, with help from existing investors Benchmark, New Enterprise Associates, Icon Ventures and Two Sigma Ventures. The company reports it has now raised approximately $70 million.<\/p>\n

TimescaleDB lets users measure data across a time dimension, so anything that would change over time. \u201cWhat we found is we need a purpose-built database for it to handle scalability, reliability and performance, and we like to think of ourselves as the category-defining relational database for time series,\u201d CEO and co-founder Ajay Kulkarni explained.<\/p>\n

He says that the choice to build their database on top of Postgres when it launched four years ago was a key decision. \u201cThere are a few different databases that are designed for time series, but we\u2019re the only one where developers get the purpose-built time series database plus a complete Postgres database all in one,\u201d he said.<\/p>\n

While the company has an open-source version, last year it decided rather than selling an enterprise version (as it had been), it was going to include all of that functionality in the free version of the product and place a bet entirely on the cloud for revenue.<\/p>\n

\u201cWe decided that we\u2019re going to make a bold bet on the cloud. We think cloud is where the future of database adoption is, and so in the last year [\u2026] we made all of our enterprise features free. If you want to test it yourself, you get the whole thing, but if you want a managed service, then we\u2019re available to run it for you,\u201d he said.<\/p>\n

\n

Timescale announces $15M investment and new enterprise version of TimescaleDB<\/a><\/p>\n<\/blockquote>\n

\n

The community approach is working to attract users, with over 2 million monthly active databases, some of which the company is betting will convert to the cloud service over time. Timescale is based in New York City<\/a>, but it\u2019s a truly remote organization, with 60 employees spread across 20 countries and every continent except Antarctica.<\/p>\n

He says that as a global company, it creates new dimensions of diversity and different ways of thinking about it. \u201cI think one thing that is actually kind of an interesting challenge for us is what does DI mean in a totally global org. A lot of people focus on diversity and inclusion within the U.S., but we think we\u2019re doing better than most tech companies in terms of racial diversity, gender diversity,\u201d he said.<\/p>\n

And being remote-first isn\u2019t going to change even when we get past the pandemic. \u201cI think it may not work for every business, but I think being remote first has been a really good thing for us,\u201d he said.<\/p>\n

\n

Timescale is leading the next wave of NYC database tech<\/a><\/p>\n<\/blockquote>\n

\n

\n

So you want to raise a Series A<\/a><\/p>\n<\/blockquote>\n

\n

\u00a0<\/p>\n

Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/8OG7d52tCBY\/<\/p>","protected":false},"excerpt":{"rendered":"

Timescale, makers of the open-source TimescaleDB time series database, announced a $40 million Series B financing round today. The investment comes just over two years after it got a $15 <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-24193","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t