InfluxData, the creator of the time series platform InfluxDB, is disclosing the result of its Series E funding round, having raised $51 million for a total of $81 million in capital funding and $171 million in total equity funding. Led by Princeville Capital and Citi Ventures, with participation from Battery Ventures, Mayfield Fund, Sapphire Ventures, Norwest Venture Partners, Sorenson Capital, and Harmony Partners, as well as a $30 million debt facility with Silicon Valley Bank, InfluxData is positioned to continue its lead in the time series database industry, according to the company.
InfluxData emphasizes that the value of time is essential in understanding data and its context. Time reveals trends and patterns in data that can further determine or anticipate outcomes, providing crucial insights in real-time that fuel successful business.
“The tailwinds are behind time series and InfluxData, evidenced by the significant growth of our cloud business, which now represents nearly half of our revenue,” said Evan Kaplan, CEO, InfluxData. “As the pioneer of the modern time series market, we played a pivotal role in driving the recent acceleration in this sector, pushing time series from the edge to the cloud and now, into analytics. Our investors believe in our vision for time series to power the most sophisticated and large-scale analytics use cases our customers and community can imagine.”
With more than 1,900 commercial customers—including Cisco, Hulu, IBM, Nest, PTC, Siemens, and Tesla—InfluxData is a leading competitor in the maturing time series database market, according to the company. The recent years have made time-based databases an increasingly desired tool, allowing organizations to consistently produce real-time data value.
"InfluxData’s successful execution of cloud-native services is a testament to the size and maturity of the time series market,” said Vivian Huang, principal at Princeville Capital and new InfluxData board member. "InfluxData has amassed a significant user base with more than 1,900 customers, indicators of its market leadership and strong product execution. I’m excited to partner with a category-defining company and to work with InfluxData’s board to build on its impressive work in bringing time series mainstream.”
The modern state of ever-increasing data production for any and all industries, as well as increased cloud adoption, prompts a need for in-depth analytics and scalable architectures; InfluxData’s time series database aims to answer these challenges with high-performance, trust, and open source communities.
“The use of time series data for operational analytics is an increasingly important strategic concern, and as such, the market is one of the hottest in IT right now,” said James Governor, analyst and co-founder, RedMonk. “In this age of cloud and edge, everything is instrumented, driving explosive growth in data volumes and the need for more scalable analytics platforms—that’s the market InfluxDB is addressing.”
To learn more about InfluxData’s solutions and funding, please visit https://www.influxdata.com/.