Timescale
Total amount raised
$1 Billions
Latest funding date
February, 2022
Timescale
Location
Title
Timescale has successfully raised $184.7 million over five funding rounds, achieving a valuation of over $1 billion. The company focuses on building a high-performance PostgreSQL database for time-series data and analytics.
Keep reading to explore the intricacies of Timescale's fundraising journey and the investors backing this innovative platform.
What Is Timescale?
Timescale, founded in 2017, is headquartered in New York City and Stockholm. The company specializes in enhancing PostgreSQL for time-series data and analytics, offering a high-performance database solution.
Co-founded by Ajay Kulkarni and Mike Freedman, Timescale has grown rapidly, now employing between 51 and 200 people. The team includes top researchers and industry veterans with extensive experience in scalable systems.
Timescale's mission is to enable faster builds, greater scalability, and cost efficiency for time-series data applications. Their PostgreSQL-based solutions are used in various industries, including IoT, AI, and fintech.
How Much Funding Has Timescale Raised?
- Seed Round
- Amount Raised: $3.7M
- Lead Investors: NEA
- Motivation: To address the challenge of making sense of the copious amounts of machine-generated data.
- Series A Round
- Amount Raised: $12.4M
- Date: January 2018
- Lead Investors: Benchmark
- Motivation: To support the fast-growing community, grow production deployments, develop additional tools and capabilities, and hire the best possible team.
- Series A1 Round
- Amount Raised: $15M
- Date: January 2019
- Lead Investors: Icon Ventures
- Motivation: To continue building the team.
- Series B Round
- Amount Raised: $40M
- Date: May 2021
- Lead Investors: Redpoint Ventures
- Motivation: To focus on the cloud version of their time series database, making all enterprise features free in the open-source version and offering a managed cloud service for revenue.
- Series C Round
- Amount Raised: $110M
- Date: February 2022
- Lead Investors: Tiger Global
- Valuation: Over $1 billion
- Motivation: To accelerate product development, engineering, R&D, and community support, and to build a data platform for developers.
Total Amount Raised: $181.1M
Current Valuation: Over $1 billion
Key Investors
- Tiger Global
- Details: Tiger Global is a leading global investment firm focused on private and public companies in the internet, software, consumer, and financial technology sectors. They have a strong track record of backing high-growth companies.
- Investment Focus Areas: Internet, software, consumer, financial technology
- Notable Investments: Facebook, LinkedIn, Spotify
- Benchmark
- Details: Benchmark is a venture capital firm that invests in early-stage startups across various sectors, including software, consumer, and enterprise technology. They are known for their hands-on approach and deep industry expertise.
- Investment Focus Areas: Software, consumer, enterprise technology
- Notable Investments: Uber, Twitter, Snapchat
- New Enterprise Associates (NEA)
- Details: NEA is a global venture capital firm investing in technology and healthcare companies at all stages of growth. They have a diverse portfolio and a long history of successful investments.
- Investment Focus Areas: Technology, healthcare
- Notable Investments: Coursera, Duolingo, Robinhood
- Redpoint Ventures
- Details: Redpoint Ventures is a venture capital firm that invests in seed, early, and growth-stage companies in the technology sector. They focus on partnering with visionary entrepreneurs to build impactful companies.
- Investment Focus Areas: Technology, early-stage, growth-stage
- Notable Investments: Netflix, Stripe, Twilio
- Icon Ventures
- Details: Icon Ventures is a venture capital firm that invests in early and growth-stage technology companies. They are known for their strategic support and extensive network.
- Investment Focus Areas: Early-stage, growth-stage, technology
- Notable Investments: FireEye, Palo Alto Networks, Proofpoint
What's Next for Timescale?
Timescale stands at the cusp of a significant opportunity, driven by the increasing ubiquity of time-series data in industries like IoT, IT observability, and web3. With over 500 paying customers and tens of thousands of organizations using TimescaleDB, the company is poised to expand its cloud-based managed services and continue its rapid growth. The recent $110 million Series C funding will fuel product development, engineering, and R&D, positioning Timescale to build a comprehensive data platform for developers.
Future fundraising opportunities seem promising, given the company's exponential growth and strategic shift towards cloud services. However, Timescale will need to navigate challenges such as scaling their operations, competing with established data platforms like Snowflake and Databricks, and maintaining a diverse, remote-first workforce. As they continue to innovate and contribute to the PostgreSQL community, Timescale may also attract acquisition interest from larger tech companies looking to enhance their database offerings.
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