Database startup Imply Inc. has raised $30 million in what it describes as an “opportunistic” funding round to build on the eightfold revenue increase it logged over the past two years.

The investment, announced today, was led by Andreessen Horowitz with participation from Khosla Ventures and Geodesic Capital. Imply now claims a valuation of $350 million.

Burlingame, California-based Imply was started by 2015 by the creators of the Apache Druid database to commercialize the platform. Druid is an alternative to traditional data warehouses that’s built specifically for real-time analytics. It’s designed for use in scenarios where speed is the main priority, such as if a financial institution wants to analyze an emerging new fraud tactic being deployed by scammers.

Druid can ingest millions of data points per second while executing queries with latency as low as a second or less. Imply sells a commercial version of the platform, Imply Cloud, that adds on a graphical analytics interface in which users can visualize information and use advanced analytics features to find patterns. For database administrators, Imply Cloud provides features that simplify day-to-day management tasks such as adding more servers to a deployment.

The startup provides the platform as a managed service hosted on Amazon Web Services. Core Imply Cloud features, including the administration and analytics capabilities, can also be deployed on on-premises Druid deployments.

Imply’s decision to target existing Druid deployments is a strategic one: The open-source version of the database is used by a long list of major companies, including Netflix Inc., Airbnb Inc. and PayPal Holdings Inc., that represent a potentially significant revenue opportunity. Those firms employ the database for applications ranging from fraud detection to analyzing the behavior of website visitors. Other use cases include infrastructure monitoring and connected device analytics. 

“Although our Series B funding round was opportunistic — we had spent less than 10% of our Series A — we plan to use the funds to aggressively pursue our vision,” Imply Chief Executive Officer Fangjin Yang wrote in a blog post accompanying today’s funding announcement. “The financing will accelerate product development and the company’s go-to-market expansion.”

Imply has raised a total of $45.3 million in funding so far. 

Image: Imply