Kinetica Raises $50 Million in Recent Funding Round

Kinetica, provider of a GPU-accelerated relational database, has closed $50 million in Series A financing to expand its operational team worldwide.

The company will use its new funding to hire additional engineering, sales, and marketing talent as well as open new offices throughout the world.

The round was co-led by Canvas Ventures and Meritech Capital Partners, with participation from new investor Citi Ventures and existing investor Ray Lane of GreatPoint Ventures.

“We invested because we believe in the promise of Kinetica in the commercial world,” said Gary Little, partner at Canvas Ventures. “But understanding Kinetica’s US-intelligence community roots will shed light on how ground-breaking their technology truly is”

Kinetica customers include GlaxoSmithKline, PG&E, US Postal Service, IronNet Cybersecurity, and one of the world’s largest retailers.

 In conjunction with the financing, Gary Little and Paul Madera will join Ray Lane, Amit Vij, and Nima Negahban on Kinetica’s Board of Directors.

Inclusive of this $50-million Series A funding round, Kinetica has raised a total of $63 million in venture financing.

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