Cockroach Labs was founded in 2016, and since then, the CockroachDB next-generation SQL database has helped organizations move and manage critical transactional data in the cloud
Fremont, CA: Enterprise-grade distributed SQL database company Cockroach Labs secured USD 86.6 million in a Series D investment round co-led by Altimeter Capital and BOND, with participation from Benchmark, GV, Index Ventures, Redpoint Ventures, Sequoia Capital and Tiger Capital. Proceeds from the investment round will be used by the company to continue investments in R&D to better support their customers looking to move to a cloud-based infrastructure. The new investment round takes the company's total raised capital to USD 195 million.
"The migration to a multi-cloud environment has long been underway at many, if not all, of the top global enterprises. What cannot be taken for granted in the rush to the cloud is resiliency and scalability, which is near impossible to do without a distributed database that is elastic and self-healing," said Spencer Kimball, CEO and co-founder of Cockroach Labs. "It's a given that this is the way of the future. But as that future approaches faster than many expected, it is putting immense pressure on the enterprise to make this leap now, as quickly and effortlessly as possible. CockroachDB was purpose-built for mission-critical, data-intensive, cloud-deployed applications. As a result, we are seeing a tremendous increase in demand for our services from companies small and large looking for bulletproof resiliency, effortless scalability and an overall more cost-effective platform."
Various companies across sectors like communications, gaming and entertainment, e-commerce and financial services are scrambling to support increased consumer demand and remote workforces. This has helped them realize that the resiliency and flexibility required to do this isn't just available without an elastically scalable, multi-cloud, modern data platform like CockroachDB. Cockroach Labs was founded in 2016, and since then, the CockroachDB next-generation SQL database has helped organizations move and manage critical transactional data in the cloud.
Despite being in the market for a concise period, Cockroach Labs is already in use at some of the world’s largest enterprises across all industries, including Equifax, Bose and Comcast. The company recently closed a USD 55 million in a Series C round to invest in hiring new talent, doubling its headcount over the past twelve months, and furthering research and development.