Time-Series Leader InfluxData Raises More Cash
Reflecting growing demand for time-series databases used to track everything from sensor data to application performance, InfluxData has completed a $35 million funding round led by Sapphire Ventures along with new investors Harmony Partners and three existing investors.
The San Francisco-based startup said the last funding round brings its venture total to $60 million. The latest investment will be used to expand sales, marketing and product development along with expansion into overseas markets as applications like the Internet of Things (IoT) and machine learning stimulate demand for time-series data.
The startup’s time-series database is built on an open-source technology stack called TICK (Telegraf, InfluxDB, Chronograf, Kapacitor). As such, InfluxDB is touted as among the first times-series platforms designed “from the ground up” to analyze time-series data (metrics and events), primarily for DevOps and IoT applications.
Database evaluators note that time-series databases are gaining market traction as networks of connected sensors generate huge amounts of data. “Traditional monitoring solutions just don’t have the speed, footprint, and uptime needed for this market,” database technology tracker DB-Engines noted
Along with real-time analytics, DB-Engines also lists DevOps monitoring as an emerging application scenario for time-series databases. Expanding infrastructure tools like micro-services, application containers, flexible storage and software-defined networking are generating demand for real-time monitoring tools, the technology tracker noted.
In a survey released earlier this month by DB-Engine, InfluxDB ranked first among time-series database management platform vendors.
Along with IoT rollouts, demand for time-series databases is being driven by the emergence of cloud-native application and services, many of which are instrumented for real-time performance monitoring. InfluxData claims more than 115,000 “active” sites running it SQL-friendly time-series platform.
Among its more than 400 customers are Cisco Systems (NASDAQ: CSCO), IBM (NYSE: IBM), SAP (NYSE: SAP) and the National Institute of Standards and Technology.