InfluxData Closes Series E Round and Raises $81M New Funding

InfluxData

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InfluxData, the company behind the leading time series platform InfluxDB, announced today that it has raised $81 million in capital funding, including a $51 million Series E funding round led by new investors Princeville Capital and Citi Ventures, as well as participation from existing investors Battery Ventures, Mayfield Fund, Sapphire Ventures, and others, and a $30 million debt facility with Silicon Valley Bank. With the Series E financing, InfluxData has raised a total of $171 million in equity funding.

Time is an important context for comprehending data. Time series data preserves that context in a format that can be used to predict and determine trends over time. As the world becomes more instrumented, applications, sensors, and systems emit an ever-increasing stream of time series data, which, when collected and analyzed, provides valuable real-time insights.

Evan Kaplan, CEO of InfluxData, says that the company is doing well and growing fast. Their cloud business makes up almost half of their income. InfluxData is a pioneer in the time series market and has helped this sector grow rapidly by taking it from the edge to the cloud and now into analytics. Investors believe in the company’s vision of using time series for even more advanced and large-scale analytics in the future.

James Governor, an analyst and co-founder of RedMonk, says that using time series data for operational analytics is becoming more important. This is why the market for this technology is growing quickly. In the age of cloud and edge computing, more data is being collected and there is a need for more scalable analytics platforms. InfluxDB is a company that is addressing this growing market need.

The funds raised will help in the development and ongoing rollout of the company’s new database engine, InfluxDB IOx, which is based on an open source project. The new engine reimagines InfluxDB as a real-time columnar datastore capable of ingesting billions of data points in real time and with unbounded cardinality, allowing it to support the full range of time series workloads in a single database.
By supporting real-time use cases that rely on metrics, events, traces, and other high-cardinality data, these capabilities raise the bar for time series analytics. With the investment, InfluxData will be able to bring these next-generation platform capabilities to its growing global customer base while continuing to develop open source features.

Vivian Huang, a Principal at Princeville Capital and new board member of InfluxData, is impressed with the success of the company’s cloud-native services. This success shows that the time series market is growing and becoming more advanced. InfluxData has over 1,900 customers, which shows that the company is a leader in the market and has good products. Huang is excited to work with InfluxData and help the company continue to bring time series data into wider use.

Vibhor Rastogi, the Global Head of AI, Machine Learning, and Data Investing at Citi Ventures, says that time series data is a growing market that is important for real-time data analytics across many industries, including financial services. InfluxData is a leader in this market and has a new database engine for delivering real-time analytics on a large scale. Rastogi is excited to add InfluxData to Citi Ventures’ portfolio and support the company’s vision for using time series data in their analytics.

Princeville Capital, Citi Ventures, Battery Ventures, Mayfield Fund, Trinity Ventures, Sapphire Ventures, Norwest Venture Partners, Sorenson Capital, and Harmony Partners were among the investors in this round.

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