Yugabyte announced that it has closed $188 million in an oversubscribed Series C funding round. The round, led by Sapphire Ventures, includes participation from Alkeon Capital, Meritech Capital, and Wells Fargo Strategic Capital, as well as existing investors Lightspeed Venture Partners, 8VC, Dell Technologies Capital, Wipro Ventures, and others.
Choice for cloud-native global applications
Sapphire President Jai Das also joins the Yugabyte Board of Directors. The round, which comes seven months after its previous round, brings the company’s total funding to over $290 million and values Yugabyte at more than $1.3B. YugabyteDB is the database of choice for cloud-native global applications, trusted by organizations like Wells Fargo, Kroger, Hudson River Trading, Narvar, and others.
YugabyteDB offers unmatched flexibility, continuous availability and speed for born-in-the-cloud applications as well as mission-critical enterprise microservices. The funding comes on the heels of the launch of Yugabyte Cloud, Yugabyte’s fully managed database-as-a-service offering, announced in September.
Bill Cook, CEO of Yugabyte said,
“As organizations embrace digital transformation and endeavor to become more data-driven, the need for a cloud-native database that can scale with them grows. YugabyteDB was built to address this expanding market and to meet the current and future needs of any business, regardless of their cloud infrastructure. We are thrilled to have more resources at our disposal to help us better serve our customers, and we are excited to draw on Jai’s wealth of knowledge in this space going forward.”
The influx of capital will be used to further grow Yugabyte’s field and engineering teams and fuel the company’s expansion into new markets. This will enable faster enterprise adoption of the Yugabyte Cloud product offerings which deliver a streamlined operational experience for running YugabyteDB in any public, private, or hybrid cloud or Kubernetes infrastructure.
Adoption of YugabyteDB for systems of record, as a serving layer for customer-facing applications, and for edge and IoT applications, speaks to the strong demand for the database’s geographic data distribution, horizontal scalability, and transactional capabilities. YugabyteDB has customers across all verticals, including retail, financial services and telecommunications. More than 1,200 organizations have signed up for Yugabyte Cloud since its beta launch last year.