RisingWave Labs, a San Francisco, CA-based streaming database company, raised $36m in Series A funding.
The Series A round, led by multiple partners, including the investment arm of a leading global gaming firm, Yunqi Partners, and several individual investors, brings the total funding to over $40m.
The company intends to use the funds to expand operations and grow its engineering and customer support teams.
Led by CEO Yingjun Wu, RisingWave Labs develops RisingWave, a cloud-native SQL streaming database for modern real-time applications. With Postgres-compatible SQL as the interface to manage and query data, users can write SQL code to continuously process streaming data. RisingWave has adopted cloud-native architecture that separates the compute layer from the storage to maximize the efficiency of cloud resources. Stream processing allows users to continuously gain timely, actionable insights from real-time data and bring immense business value to companies across different verticals, such as Financial Services, Health & Life Sciences, Manufacturing & Industrials, and others.
As a commercial open-source software (COSS) company, RisingWave Labs plans to monetize the open-source database by offering cloud services. The company recently launched the preview version of RisingWave Cloud for early access customers and partners with general availability in 2023.
FinSMEs
19/10/2022