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PingCAP, the Company Behind TiDB, Raises $270 Million in Series D Funding

2020-11-17PingCAP

PingCAP raises $270 million in series D funding

With great pleasure, we are announcing that we have raised $270 million in Series D funding. This round is jointly led by GGV Capital, Access Technology Ventures, Anatole Investment, Jeneration Capital, and 5Y Capital (formerly Morningside Venture Capital). Coatue, Bertelsmann Asia Investment Fund (BAI), FutureX Capital, Kunlun Capital, Trustbridge Partners, and existing investors Matrix Partners China and Yunqi Partners also participated in this round. We are thrilled and humbled to have these prestigious and visionary investors join us as we strive to build the database of the future.

PingCAP began five years ago when our cofounders, sick and tired of the way databases were managed, scaled, and maintained, decided to build one themselves. Since day one, our mission has been to help every business unleash the power of data. With the help of a first-class team and hundreds of contributors from around the globe, we live our mission by delivering TiDB, an open-source distributed NewSQL Hybrid Transactional/Analytical Processing (HTAP) database. Over the last five years, more than 1,500 companies around the world have adopted TiDB, including Square, PayPay, BookMyShow, Dailymotion, Bank of China, JD.com, and Shopee. These companies and many others use TiDB for tasks like solving the scalability bottlenecks for the online transactional businesses, integrating TiDB as the real-time analytics platform, or saving infrastructure and maintenance cost (by migrating to TiDB Cloud).

We could not have achieved so much—or done it so quickly—without the open-source community. In five years, TiDB has gone from its inception to a top open-source project in the infrastructure technology field, with over 25,000 stars received on GitHub. It has more than 1,000 contributors from different organizations including UCloud, Zoom, Samsung, Square, PayPay, and Zhihu. TiDB's thriving open-source ecosystem not only brings vitality to product development, but also validates the challenging scenarios across industries all around the world. We will definitely continue our commitment to the open-source community.

The world is changing rapidly and the digital transformation has been accelerated significantly. We believe TiDB is the right database in the technology stack to prepare you for the unpredictable workloads because it provides a unified infrastructure for business to adapt intelligently, which enables live, scalable transactional data to be readily available for analytics, resulting in the competitive advantages for faster decision making and time-to-market, exceptional customer experiences and, ultimately, business success without infrastructure concerns.

"TiDB's thriving global ecosystem, including its diverse contributors, myriad adopters, and its partnership with multiple organizations, powers accelerating product development and validates TiDB's ability to serve the most challenging scenarios across multiple global industries," said Glenn Solomon, partner at GGV Capital. "TiDB is a thriving open-source project, and we have strong confidence in the PingCAP leadership team to enable a growing number of global organizations to flourish and succeed with TiDB."

"The explosive growth in data requires a scalable, agile, and cost-effective solution," said Pueo Keffer, Managing Director of Access Technology Ventures. "PingCAP is a leader in data infrastructure and uniquely well-positioned to accelerate digital transformation worldwide."

Our series D funding will let us expand our development and bring our products to more people. We will triple our R&D forces all around the world, especially for our TiDB Cloud product, and advance our global expansion and growth in North America, Japan, Asia Pacific, and Europe. We'll also continue our investment in the open-source community and ecosystem to empower the contributors, adopters, partners, and customers. Join us today and we will build our future together!

We would also like to take this opportunity to thank our customers, community, and investors for your trust and support, without which we would not have come this far.

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