Yugabyte, a Sunnyvale, Calif.-based leader in open source distributed SQL databases, closed $188m in Series C funding round.
The round, which brought total funding to over $290m and valued Yugabyte at more than $1.3 Billion, was led by Sapphire Ventures, with 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. In conjunction with the funding, Sapphire President Jai Das also joined the Yugabyte Board of Directors.
The company intends to use the funds to further grow its field and engineering teams and accelerate expansion into new markets.
Led by Bill Cook, CEO, YugabyteDB provides a cloud-native, open-source, geographically distributed SQL database for cloud-native applications. The company serves business-critical applications with SQL query flexibility, high performance and cloud-native agility, thus allowing enterprises to focus on business growth instead of complex data infrastructure management. It is used by companies in cybersecurity, financial markets, IoT, retail, e-commerce, and other verticals including Wells Fargo, Kroger, Hudson River Trading, Narvar, and others.
The funding follows the launch of Yugabyte Cloud, Yugabyte’s fully managed database-as-a-service offering, announced in September.