Nile, a San Francisco, CA-based provider of serverless Postgres designed for modern SaaS applications, raised $11.6m in seed funding round.
The round was led by Benchmark’s Eric Vishria, who will be joining the board.
The company intends to use the funds to expand operations and its development efforts. The funding will be used to get the product ready for production and to start monetization.
Co-founded by industry veterans Sriram Subramanian and Gwen Shapira, Nile speeds up SaaS application development, reduces cost, and helps developers understand customers. It virtualizes tenants/customers/organizations into Postgres to enable native tenant data isolation, performance isolation between tenants, per-tenant backups, and tenant placement on shared or dedicated compute globally for latency or compliance. Usrs don’t have to manage multiple databases, build complex permissions for isolation, or write buggy scripts to read specific tenant data from backups.
Nile launched publicly at the end of October and already has 300 registered databases and over 3000 on the waitlist. It is in private beta, and the founders hope to move to public beta soon.
FinSMEs
31/01/2024