New-York based Timescale raises $110M funding at a valuation of $1 Bn

New York-based creator of TimescaleDB, Timescale has raised $110M in Series C funding at a valuation of over $1 billion. The round was led by Tiger Global besides the participation of existing investors Benchmark, New Enterprise Associates, Redpoint Ventures, Icon Ventures, and Two Sigma Ventures.

With the fund raised, the company intends to use it to increase investments in product, engineering, & R&D; broaden efforts in serving the Timescale community, customers, and developers worldwide; and grow the team.

Timescale is dedicated to its mission to build a data platform for developers, enabling businesses to build exceptional data-driven applications on top of time-series data. TimescaleDB, a relational database for time-series, is used by tens of thousands of organizations to build data-driven products that measure everything that matters: software applications, industrial equipment, financial markets, blockchain activity, consumer behavior, machine learning models, climate change, and more.

The company today serves over 500 paying customers and tens of thousands of other organizations using TimescaleDB in the community, including companies like Akamai, Cisco WebEx, Comcast, DigitalOcean, GE, IBM, Microsoft, Pfizer, Samsung, Schneider Electric, Uber, Walmart, and others.