TigerGraph Cloud Goes Live as Firm Raises $32M
Companies that need the power of a graph database to solve tough analytics challenges in the fields like fraud detection or customer 360 can get up and running quickly with TigerGraph Cloud, a new cloud-based graph analytic service unveiled today by TigerGraph at the Strata Data Conference. The company also announced a $32-million Series B round, bringing its total funding to $65 million.
TigerGraph Cloud is a new software as a service (SaaS) offering that runs on Amazon Web Services (AWS), but which customers access through TigerGraph. Customers that have data stored on S3 can easily pipe that data into TigerGraph Cloud to use the graph database to discover useful connections hidden among entities in the database.
TigerGraph Cloud was unveiled almost a year ago, and today the company announced that it’s now generally available on AWS. Support for other clouds will follow.
TigerGraph has developed starter kits for its cloud offering that allow customers to get up and running quickly for certain use cases, such as personalized real-time recommendation, hub or influencer computation, supply chain analysis, customer 360, and fraud detection.
“This is true selfservice,” said Todd Blaschka, TigerGraph‘s COO. “You go to TigerGraph cloud, sign up, and within minutes you have infrastructure running. It accelerates their time to value because we’re providing many use cases right out of the gate.”
The graph database is able to handle up to about 750 GB of data, a limitation imposed by the amount of memory available on AWS ECS instances. But when the data is compressed, the amount can be many times larger than that. TigerGraph Cloud can process “tens of terabytes and support more than 100,000 real-time deep link analytics queries per second on a single machine,” the company says.
TigerGraph Cloud will go up against Neptune, the graph database service that AWS launched last year. But according to Gaurav Deshpande, vice president of marketing, TigerGraph’s offering is over 100 faster.
“We’re a native graph database that allows you to scale up to the problem., supporting graph queries that do five, 10, 15 hops in real time,” he said. “Not only do we have more hops on more traversals in real time…but it’s lower total cost of ownership.”
TigerGraph also announced that it raised $32 million in a Series B round led by SIG. TigerGraph will use the funding to expand growth and expansion, says Yu Xu, the CEO and founder of TigerGraph.
TigerGraph emerged from stealth about two years ago and has gained traction among large companies in the financial services, healthcare, and other industries, including Amgen, China Mobile, Intuit, Wish and Zillow.
Xu says the timing for graph analytics could not be better. “We’re fortunate to be at the right time for graph databases,” Xu tells Datanami. “It’s not easy for a database company, especially a new type of graph database company, to have so many leading customers.”
Editor’s note: This article has been corrected. TigerGraph Cloud is a SaaS application offered through TigerGraph, not through AWS. Datanami regrets the error.