REDWOOD CITY — TigerGraph, provider of the leading graph analytics platform, has raised $105 million in Series C funding, the largest funding round to date within the graph database and analytics market. The round was led by hedge fund Tiger Global and brings TigerGraph’s total funding raised to over $170 million. TigerGraph already has a presence in China and is opening offices in Singapore and in Indonesia.
TigerGraph’s technology supports advanced analytics and machine learning applications such as fraud detection, anti-money laundering (AML), entity resolution, customer 360, recommendations, knowledge graph, cybersecurity, supply chain, IoT, and network analysis.
“The Asia Pacific digital economy continues to grow, and we are seeing increased regional demand. To tap this potential and to better serve our customers in the region, we will be opening offices in Singapore and in Indonesia. TigerGraph’s initiatives in Asia will be led by Joseph (Joe) Lee, an enterprise software sales and business veteran, as Vice President, Asia Pacific and Japan. We are expanding at the speed of business and are actively hiring for key positions in Asia,” said Todd Blaschka, COO, TigerGraph.
“Our mission is to help governments, businesses and people to unlock the power of their data and drive actionable, real-time insights-driven decision-making. TigerGraph already works with the top four largest banks in Asia helping these customers across areas such as Real-time Fraud Detection, Anti-Money Laundering, Credit Risk Assessment, and Customer 360 Analysis. We also work with key telcos in the region, enabling them to analyse customer behaviour and prevent fraud,” he added.
The investment reflects TigerGraph’s growth and the massive potential as businesses continue to move to the cloud. With the transactional and analytical workloads moving to the cloud made possible by companies like Snowflake, Confluent, and Databricks, TigerGraph is quickly becoming the graph database of choice to connect, analyze and learn new insights from the data. With its distributed native graph architecture, TigerGraph helps organizations scale fast, analyze many different aspects of data to be used with each other to form new models and generate new insights. These new patterns and insights enhance a company’s analytics or machine learning capabilities and can be deployed anywhere with multi-cloud flexibility and support the data security requirements for regulatory compliance.