We’re excited to announce today that Two Sigma Ventures is joining Benchmark, NEA, and several other angel investors to back Timescale — an open-source time-series database — in their $12.4M Series A. This latest round of financing brings Timescale’s total funding to just over $16M.
We see a few different trends coming together and creating very strong demand for time-series capable databases, namely (i) the explosion of connected machines across the Internet of Things has created a need for businesses to capture and analyze massive volumes of data almost by the second, (ii) companies are realizing that archived data they have been collecting for years is time-series based and are actively seeking to put it into use, and (iii) extremely large time-based datasets are increasingly complex to manage, leading to a resurgence of popularity for SQL-based relational databases.
Timescale is scalable and optimized for fast data ingestion of time-series data, while also having the ease of use and broad compatibility of SQL. Most importantly, we believe Timescale provides the perfect bridge for developers seeking compatibility with their existing SQL setup.
As a large data consumer, Two Sigma knows first-hand how valuable understanding granular data can be. Managing many thousands of datasets over 16 years, Two Sigma has built time-series capable systems from the ground up. That’s why we were impressed when we discovered how Timescale could catapult newcomers into using the full fidelity of their data.
We’re excited to partner with Ajay, Mike, and the Timescale team through this next phase of growth. In just 9 months, it has been impressive to see the company build a strong and committed developer community. See more thoughts from Timescale here, and make sure to share on Twitter!