Total amount raised
$641.6 Million
Latest funding date
5/1/2021
Location
PingCAP has successfully raised multiple funding rounds, with the latest being a Series D round led by GGV Capital and Sequoia Capital. The company has attracted a total of 21 investors, including notable names like Coatue and GIC.
Keep reading to explore the intricacies of PingCAP's fundraising journey and the investors backing this innovative platform.
What Is PingCAP?
PingCAP, based in Sunnyvale, California, is a private company specializing in cloud data services, database technology, open-source software, and software development. The company has between 501 and 1000 employees.
PingCAP is the developer of TiDB, an open-source, distributed SQL database designed for scalable transaction processing and real-time analytics. The platform is known for its seamless scalability, built-in resilience, and operational agility.
How Much Funding Has PingCAP Raised?
- Seed Round
- Amount Raised: USD 1,600,000
- Date: April 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their open-source, distributed SQL database.
- Series A
- Amount Raised: USD 5,000,000
- Date: August 2016
- Lead Investors: Yunqi Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the development team and accelerate product development.
- Series B
- Amount Raised: USD 15,000,000
- Date: June 2017
- Lead Investors: China Growth Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the product's features and improve scalability.
- Series C
- Amount Raised: USD 50,000,000
- Date: September 2018
- Lead Investors: 5Y Capital, Fosun International, Morningside
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support global expansion and further product development.
- Series D (First Round)
- Amount Raised: USD 270,000,000
- Date: November 2020
- Lead Investors: 5Y Capital, Access Technology Ventures, Anatole, GGV Capital, Jeneration Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand development efforts, particularly for the TiDB Cloud product, and to advance global expansion.
- Series D (Second Round)
- Amount Raised: USD 300,000,000
- Date: May 2021
- Lead Investors: GGV Capital, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further accelerate global expansion and enhance product offerings.
Total Amount Raised: USD 641,600,000. Current Valuation: Not publicly disclosed.
Key Investors
- GGV Capital
- Details: GGV Capital is a venture capital firm that invests in technology companies. They have been a lead investor in PingCAP's Series D funding rounds.
- Investment Focus Areas: Technology, consumer, enterprise.
- Notable Investments: Alibaba, Slack, Square.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm known for investing in early and growth-stage companies. They were a lead investor in PingCAP's Series D funding round.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Apple, Google, WhatsApp.
- 5Y Capital
- Details: 5Y Capital, formerly known as Morningside Venture Capital, is a venture capital firm that invests in early to growth-stage companies. They have been involved in multiple funding rounds for PingCAP.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Xiaomi, Kuaishou, NIO.
- Access Technology Ventures
- Details: Access Technology Ventures is the venture capital arm of Access Industries, focusing on technology investments. They participated in PingCAP's Series D funding round.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Alibaba, Facebook, Spotify.
- Yunqi Partners
- Details: Yunqi Partners is a venture capital firm that invests in early-stage technology companies. They were the lead investor in PingCAP's Series A funding round.
- Investment Focus Areas: Technology, enterprise, consumer.
- Notable Investments: Xiaohongshu, Horizon Robotics, WeRide.
What's Next for PingCAP?
PingCAP stands at the cusp of significant growth, driven by the increasing demand for scalable and agile data infrastructure solutions. With substantial financial backing from its recent Series D funding, the company is poised to expand its R&D efforts, particularly for TiDB Cloud, and to grow its presence in North America, Japan, Asia Pacific, and Europe. This global expansion presents a vast opportunity for PingCAP to bring its innovative database solutions to a broader market.
Future fundraising opportunities seem promising, given the company's successful track record and ambitious growth plans. As digital transformation accelerates across industries, PingCAP's focus on real-time analytics and hybrid transactional/analytical processing (HTAP) databases positions it well for continued investment. However, the company will need to navigate challenges such as competition from other database solutions and managing rapid growth effectively.
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