SAN FRANCISCO, CA, InfluxData today announced it has closed a $35 million Series C round of funding led by Sapphire Ventures.
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InfluxData, the modern Open Source Platform built specifically for metrics, events and other time series data that empowers developers to build next-generation monitoring, analytics and IoT applications, today announced it has closed a $35 million Series C round of funding led by Sapphire Ventures, which funds category-leading growth technology companies. Round participants included new investor Harmony Partners, and existing investors Battery Ventures, Mayfield Fund and Trinity Ventures. The funding will propel the company's leadership in the growing time series database category.
Today's funding will be used to expand Sales, Marketing and R&D to meet the increasing demand and further build out of the InfluxData platform. In addition, this investment will fuel the company's rapid acceleration internationally, where it is already seeing significant revenue and growth. The funding brings the company's total funding to $60 million. In addition, Anders Ranum, partner, Sapphire Ventures, will join the Board of Directors.
"Development teams are facing steep barriers in capturing and analyzing all the data available to them in making smart decisions for their business given new capabilities in machine learning, internet of things, and artificial intelligence," said Ranum of Sapphire Ventures. "We saw a significant opportunity emerging with time series platforms, and it was clear that InfluxData is the market leader. More importantly, it is the only time series platform that was architected from the ground up to handle time series data."
"The demand for our category-leading platform is accelerating rapidly as developers and operators come to understand the power of a purpose-built time series platform to run their next-generation IoT, monitoring and analytics applications," said Evan Kaplan, InfluxData CEO. "This latest round of funding is an exciting opportunity for us to work with the amazing team at Sapphire Ventures to meet the needs of our expanding customer base both domestically and internationally, as well as deliver on our continued investment in building quality open source time series software for the broader development community."
InfluxData is seeing exceptional growth fueled by two major industry trends - the rapid instrumentation or "sensorification" of the physical world driven by the increasing investment in IoT systems and the explosion in the software world of cloud native applications and services, all of which are being instrumented for real-time visibility and control. This "Age of Instrumentation" is fueling the growth for purpose-built time series platforms that can support the critical requirement for real-time processing of the myriad of metrics and events to deliver insight and competitive advantage to data driven organizations. To date InfluxData has more than 115,000 active sites running the platform on a regular basis and more than 400 paying customers, including Cisco Systems, Coupa Software, IBM, Nordstrom, Tesla and SAP.
"We researched the best time series platforms and chose InfluxData because it is highly performant, provided high availability, and was more cost effective than the SaaS solutions we were considering," said Christina Abraham, VP, Global Cloud Infrastructure & Operations at SAP Ariba. "InfluxData was easy to implement and is now the primary data store to collect metrics and events for SAP Ariba operations. InfluxData provides the basis for all the visualizations and alerting that is critical to our business."
Over the past 12 months InfluxData has continued to extend its position as the market leader among time series database management systems, the fastest growing database category, validated by DB-Engines' latest results. For more on these industry results, see: https://db-engines.com/en/ranking/time+series+dbms.
"InfluxData is helping us provide improved visibility across our business into areas that we previously couldn't see," said Sanket Naik, VP, Cloud Infrastructure and Security, Coupa Software. "It has allowed us to do anomaly detection, and proactively identify and fix issues before customers find them. We chose InfluxCloud because it provides the scalability and high availability that our business requires."
About Sapphire Ventures
Sapphire Ventures is a venture capital firm focused on helping innovative technology companies become global category leaders. Leveraging nearly two decades of experience and an extensive global enterprise network, Sapphire Ventures invests capital, resources and expertise to enable its portfolio companies to scale rapidly. Whether entrepreneurs sell to businesses, consumers or both, Sapphire Ventures offers a powerful platform for business development and operational excellence to help them accelerate growth. With $2.5 billion under management via direct growth investments and early-stage fund investments, Sapphire Ventures is positioned to elevate companies to the global stage.
InfluxData, the creator of InfluxDB, delivers a modern Open Source Platform built from the ground up for analyzing metrics and events (time series data) for DevOps and IoT applications. Whether the data comes from humans, sensors, or machines, InfluxData empowers developers to build next-generation monitoring, analytics, and IoT applications faster, easier, and to scale delivering real business value quickly. Based in San Francisco, InfluxData's more than 400 customers include Cisco, eBay, IBM and Siemens. Visit https://www.influxdata.com/. Twitter: @influxdb.
InfluxData, InfluxCloud and InfluxDB are all trademarked by InfluxData. All other trademarks are the property of their respective owners.