SUNNYVALE — Yugabyte, a developer of open source distributed SQL databases, 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.
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 a database for cloud-native global applications and used by organizations like Wells Fargo, Kroger, Hudson River Trading, Narvar, and others. YugabyteDB offers 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.
“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,” said Bill Cook, CEO, Yugabyte. “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 new capital will be used to 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.
“The beauty of YugabyteDB lies in its power and simplicity, working for any organization and at any stage. Regardless of whether you’re a large enterprise modernizing your existing data infrastructure, a startup born in the cloud or something in between, Yugabyte’s cloud-native, open-source, geographically distributed SQL database can run on any cloud or Kubernetes environment,” said Jai Das, Co-founder, President and Partner, Sapphire Ventures. “Developers love its PostgreSQL compatibility, CIOs love its flexibility and architects love that their data is always available and accessible from anywhere. Yugabyte is an exceptional technology built by an exceptional founding team. We’re thrilled to back Yugabyte and help scale it to a company of consequence.”