Cockroach Labs, the company behind CockroachDB, is receiving $86.6 million in series D funding to further grow investments in R&D to better support customers looking to move to the cloud.
The funding round was co-led by Altimeter Capital and BOND with participation from Benchmark, GV, Index Ventures, Redpoint Ventures, Sequoia Capital, and Tiger Capital. This round brings Cockroach Labs’ total funding to $195 million.
Enterprises in areas including communications, gaming and entertainment, e-commerce and financial services are scrambling to support increased consumer demand and remote workforces, and are finding that the resiliency and flexibility necessary to do so just isn’t available without an elastically scalable, multi-cloud, modern data platform like CockroachDB.
Since its inception in 2016, the CockroachDB next-generation SQL database has helped organizations move and manage critical transactional data in the cloud.
Today, Fortune 500 CIOs are taking notice: while CockroachDB has only been available for two years, it is already in use at some of the world’s largest enterprises across all industries, including Equifax, Bose and Comcast.
More businesses are turning to CockroachDB to help in both expanding to meet new demand, reducing costs, and moving to the cloud. A recent survey of open roles, specifically for CockroachDB developers, on LinkedIn shows over 40 positions at 25 of the top enterprise companies across industries. Companies include Apple, Honey, Facebook, Tesla and Via.
"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, and 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.”
Cockroach most recently closed a $55 million Series C financing round last summer to invest in hiring new talent—doubling its headcount over the past twelve months—and furthering research and development.
For more information about this news, visit www.cockroachlabs.com.