Materialize, a NYC-based streaming SQL database company, raised $40m in Series B funding.
The round was led by Kleiner Perkins with participation from Lightspeed Venture Partners and executives from Cockroach Labs, Datadog and Rubrik.
The company intends to use the funds to grow its engineering team, prepare the business for growth and extend product rollout.
Led by Arjun Narayan, co-founder and CEO, and Frank McSherry, co-founder and chief scientist officer, Materialize provides a streaming SQL database company that makes it easy for any developer or analyst to understand streaming data, answer complex questions and build intelligent applications using standard technology.
The company computes and incrementally maintains data as it is generated so query results are accessible the moment they are needed.
Early customers are using its products for real-time data visualization, financial modeling, and to advance various SaaS applications in martech, logistics, and enterprise resource planning.