Timescale Raises Additional $15 Million and Introduces Enterprise Offering to Accelerate Growth of its SQL Time-Series Database
NEW YORK--(BUSINESS WIRE)--Jan 29, 2019--Timescale, the company behind the leading open-source time-series SQL database, announces it has raised $15 million in a Series A1 financing led by Icon Ventures with participation from existing investors Benchmark, NEA, and Two Sigma Ventures. Combined with its earlier rounds of financing, Timescale has raised over $31 million to help organizations utilize the power of time-series data to analyze the past, monitor the present, and predict the future.
[ ]: Timescale raises additional $15M in financing & introduces an enterprise offering to accelerate growth of its market leading SQL time-series database. http://bit.ly/tsdbfinancing
Along with the new financing, Timescale announces a new release of its database that marks a major milestone in its journey to a self-sustaining open-source business. Since its inception, TimescaleDB has been an open-source software project (Apache 2.0). Today, with the release of TimescaleDB 1.2, that open-source core is now complemented with community features (Timescale License) and enterprise features (Commercial License). All of that code base has been made source-available in the TimescaleDB GitHub repository and is packaged in a single binary file.
New TimescaleDB features include:Advanced time-series analytical functions: gap filling, LOCF, interpolation Data reordering for faster queries Self-tuning data chunk sizing for optimized performance Automated data lifecycle management (enterprise feature)
In addition, Timescale offers the following enterprise services:Schema design and query optimization Production deployment assistance Enterprise-level SLAs Warrants and indemnifications
Over the past 24 months, DB-Engines reports that time-series databases are the fastest growing category of databases in terms of popularity. Organizations look to time-series databases for two main reasons: scale and usability. Normal databases are not designed to scale for time-series workloads which accumulate data very quickly. Additionally, time-series databases include specific functions and operations for time-series analysis which provide a better user experience.
Ajay Kulkarni, Co-Founder & CEO, Timescale
“This additional funding will help us continue to build a world class team who is dedicated to supporting our users and creating the best possible foundational technology for time-series data. By combining the ubiquity of SQL, the reliability of PostgreSQL, and the performance needed for time-series workloads, TimescaleDB is uniquely positioned to become a critical part of organizations’ infrastructure worldwide.”
Michael Mullany, General Partner, Icon Ventures
“Driven by the needs of modern web and IoT-scale time data, time-series databases are in the process of blossoming from a niche technology to a mainstream product category, equal in importance to transactional and analytic databases. But before TimescaleDB, time-series databases were making unfortunate trade-offs that damaged their utility as a general purpose application platform. The enthusiasm we’ve seen for Timescale among its open source community, as well as its rapid adoption rate, make us extremely excited to back both the technology and this incredibly talented team.”
TimescaleDB has over 1 million downloads and is deployed in production at Comcast, Cray, LAIKA, LaunchDarkly, Nutanix, Sailthru, SoFi, TransferWise and more. TimescaleDB is fully compatible with the PostgreSQL ecosystem which includes Tableau, Apache Kafka, Apache Spark, Grafana, Prometheus, Zabbix, Hasura, and other support. To get started, download TimescaleDB directly from the installation guide. To learn more about enterprise offerings, please visit the website.
Timescale develops TimescaleDB, the first open-source time-series database to scale for fast ingest and complex queries while natively supporting full SQL. Because time is a critical dimension along which data is measured, TimescaleDB enables developers and organizations to harness more of its power to analyze the past, understand the present, and predict the future. TimescaleDB is deployed in production all around the world in a variety of industries including Telecom, Oil & Gas, Utilities, Manufacturing, Logistics, Retail, Media & Entertainment, and more. Based in New York, TimescaleDB is backed by Benchmark Capital, Icon Ventures, New Enterprise Associates, Two Sigma Ventures, and other leading investors. For more information, visit www.timescale.com or follow @TimescaleDB.
About Icon Ventures
Icon Ventures believes that great companies start with extraordinary entrepreneurs. Based in Palo Alto and San Francisco, Icon Ventures is a venture capital firm specializing in Series B and C financings. With well over $1 billion under management, Icon leads financings alongside the most successful early-stage venture firms in companies that are category winners. Over the last 10 years, Icon Ventures has had 32 portfolio companies go public or successfully acquired. These investments today exceed over $42 billion in exit value. They include market-leading companies such as Aster Data (Teradata), FireEye (FEYE), 41st Parameter (Experian), Infinera (INFN), MoPub (Twitter), Opcity (News Corp), Palo Alto Networks (PANW), Proofpoint (PFPT) and Teladoc (TDOC). For more information visit: iconventures.com and follow @iconventures.
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