Total amount raised
$291 Millions
Latest funding date
10/1/2021
Location
Yugabyte has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform specializes in open-source distributed SQL databases, catering to industries like cybersecurity, financial markets, and IoT.
Keep reading to explore the intricacies of Yugabyte's fundraising journey and the investors backing this innovative platform.
What Is Yugabyte?
Yugabyte, founded in February 2016, is headquartered in Sunnyvale, California. The company specializes in providing a high-performance distributed SQL database known as YugabyteDB, which is designed for building global, internet-scale applications.
The company was founded by Kannan Muthukkaruppan, Karthik Ranganathan, and Mikhail Bautin. YugabyteDB is known for its resilience, scalability, and flexibility, making it suitable for mission-critical applications across various industries.
With a team of 251-500 employees, Yugabyte continues to innovate in the field of distributed SQL databases, serving industries like cybersecurity, financial markets, and IoT.
How Much Funding Has Yugabyte Raised?
- Series A
- Amount Raised: $8M
- Date: February 2016
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of YugabyteDB and establish a market presence.
- Series A (Second Round)
- Amount Raised: $17M
- Date: June 2018
- Lead Investors: Dell Technologies Capital, Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand the engineering team.
- Series B
- Amount Raised: $30M
- Date: June 2020
- Lead Investors: 8VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the YugabyteDB platform.
- Series B (Second Round)
- Amount Raised: $48M
- Date: March 2021
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To capitalize on rapid market growth and expand the customer base.
- Series C
- Amount Raised: $188M
- Date: October 2021
- Lead Investors: Sapphire Ventures
- Valuation at Round: $1.3B
- Motivation Behind the Round: To expand field and engineering teams and enter new markets.
Total Amount Raised: $291M. Current Valuation: $1.3B.
Key Investors
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that invests in growth-stage technology companies. They have a strong track record of helping companies scale and achieve market leadership.
- Investment Focus Areas: Enterprise software, cloud computing, digital transformation.
- Notable Investments: LinkedIn, Box, Square.
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise and Consumer sectors. They have been instrumental in the growth of several high-profile startups.
- Investment Focus Areas: Enterprise, consumer, health sectors.
- Notable Investments: Snap, GrubHub, AppDynamics.
- 8VC
- Details: 8VC is a venture capital firm that invests in early-stage and growth-stage companies. They focus on building and scaling transformative technology companies.
- Investment Focus Areas: Technology, healthcare, logistics.
- Notable Investments: Palantir, Wish, Guardant Health.
- Dell Technologies Capital
- Details: Dell Technologies Capital is the venture capital arm of Dell Technologies, investing in early to growth-stage companies. They focus on innovative technology solutions that align with Dell's strategic interests.
- Investment Focus Areas: Enterprise technology, cloud computing, cybersecurity.
- Notable Investments: Zscaler, DocuSign, MongoDB.
- Alkeon Capital
- Details: Alkeon Capital is a global investment firm that focuses on public and private technology companies. They are known for their long-term investment approach and deep industry expertise.
- Investment Focus Areas: Technology, media, telecommunications, healthcare.
- Notable Investments: Facebook, Google, Amazon.
What's Next for Yugabyte?
Yugabyte stands at the cusp of significant growth, driven by the increasing demand for cloud-native, globally distributed SQL databases. With a total addressable market estimated at $65 billion, the company is well-positioned to capitalize on enterprise adoption, open-source community growth, and the expansion of its managed services.
Future fundraising opportunities seem promising, given the oversubscribed Series C round and the rapid market expansion. However, Yugabyte will need to navigate challenges such as intense competition from established database providers and ensuring data security in a cloud-native environment. Balancing innovation with operational excellence will be key to sustaining its growth trajectory.
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