Time-series database startup InfluxData reels in $35M from investors
InfluxData Inc., a San Francisco-based startup whose database is used by companies such as IBM Corp. to analyze their operational information, has secured $35 million in fresh funding.
Announced today, the cash infusion comes less than a year and a half after InfluxData raised $16 million from a consortium headed by Battery Ventures. The venture capital firm participated this time as well, alongside two other returning backers. New investor Sapphire Ventures led the round.
InfluxData will use the capital to scale up its operations across the board. The startup sells a specialized NoSQL database called InfluxDB that’s designed to process what’s known as time-series data, information made up of numerous individual items organized in a chronological order. The volume of time-series data is growing rapidly as enterprises work to gain better visibility of their operations.
In the industrial sector, for instance, a growing number of companies are collecting sensory data from their equipment to monitor how activity changes over time. Such a long-term view can make it easier to spot potential maintenance issues. The same is true in the information technology world, where both infrastructure and applications are continuously monitored for anomalies.
InfluxData said its database provides a purpose-built environment for storing time-series metrics. Besides managing the information, the platform also includes tools that enable enterprises to aggregate records from the target system in real time and analyze them.
A company that collects, say, server performance metrics could run a custom filtering algorithm on InfluxData’s platform to highlight points of interest automatically. Users can alternatively visualize the data in a dashboard when a manual analysis is required. On the backend, InfluxDB provides a built-in backup tool and other administrative features designed to ensure smooth operations.
This feature set has evidently put the startup in a good position to capitalize on the rise of time-series data. Besides IBM, the list of large enterprises that use InfluxDB also includes Cisco Systems Inc. Nordstrom Inc. and SAP SE, among more than 400 paying customers in total.
With today’s funding, InfluxDB will work to continue adding users. The startup’s sales push is set to place a particular emphasis on the international market, where it claims to be already seeing “significant revenue and growth.”
Image: Unsplash
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