TileDB, Inc., is receiving $15 million in a Series A investment round, enabling the company to expand go-to-market and product development for its “universal data engine.”
The funding round was led by Two Bear Capital, joined by Uncorrelated Ventures and all existing investors: Nexus Venture Partners, Intel Capital, and Big Pi Ventures. Montana philanthropist and Two Bear Capital Managing Partner Mike Goguen will join TileDB’s Board of Directors.
“We flipped the data management model,” said Dr. Stavros Papadopoulos, CEO and original creator of TileDB. “We invented a database that focuses on universal storage and data management rather than the compute layer, which we’ve instead made `pluggable.` We cleared the path for analytics professionals and data scientists by taking over the messiest parts of data management, such as optimized storage for all data types on numerous backends, data versioning, metadata, access control within or outside organizational boundaries, and logging. On top, we developed numerous APIs for fast direct data access and efficient integrations with a growing set of popular tools such as Spark, Dask, MariaDB and PrestoDB. Finally, we built a serverless infrastructure for easy, secure cross-organizational sharing and scalable compute, called TileDB Cloud.”
The Series A financing comes after TileDB was chosen by customers who experienced two key pains: scalability for complex data and deployment. Whole-genome population data, single-cell gene data, spatio-temporal satellite imagery, and asset-trading data all share multi-dimensional structures that are poorly handled by monolithic databases, tables, and legacy file formats.
“Many of the world’s most urgent problems - from COVID to climate change - require the analysis of large volumes of data in order to find solutions. TileDB’s technology addresses the infrastructure deficit that adds friction, delay, and cost to generating the key insights and discoveries needed from this data,” said Mike Goguen, managing partner at Two Bear Capital and lead investor. “We are excited to partner with Stavros and TileDB to build an enduring company delivering massive value for the developers and enterprise customers working to solve these and other critically important problems.”
For more information about this news, visit https://tiledb.com/.