ClickHouse Raises $250M Series B To Scale OLAP Database Management System Globally
SAN FRANCISCO, Oct. 29, 2021 — ClickHouse, Inc., creators of the online analytical processing (OLAP) database management system, announced today that it has raised $250 million in Series B funding at a $2 billion valuation. The investment was led by Coatue and Altimeter, with participation from Index Ventures, Benchmark, Lightspeed, Redpoint, Almaz, Yandex N.V., FirstMark and Lead Edge. The superior speed of ClickHouse’s technology, combined with its rapid adoption by industry leaders, signals the rise of a once-in-a-decade company. “We have been following the ClickHouse project for years,” said Caryn Marooney, General Partner at Coatue. “We are excited to join forces with this team as they continue to grow and achieve their goal of being an industry leader in this large and growing market.”
ClickHouse is an open-source, high performance columnar OLAP database management system for real-time analytics using SQL. Its performance exceeds comparable column-oriented database management systems that are available on the market, processing hundreds of millions to over a billion rows and tens of gigabytes of data per server per second. The technology was first developed a decade ago at Yandex, Europe’s leading internet service corporation, to power its large web analytics platform. “I’m delighted for our ClickHouse team. They created a truly unique technology and made it available as an open source solution, which turned out to be in great demand by the tech world,” said Arkady Volozh, CEO of Yandex Group. “Now ClickHouse Inc. is taking things to a new level, as it begins to build up an entire ecosystem of products around ClickHouse for businesses worldwide.” In 2016, ClickHouse was made available as an open source solution and experienced exponential growth, with adoption from household name companies including Uber, Comcast, eBay and Cisco. Since 2016, there have been ~20,000 pull requests made by 800+ contributors. “Cloudflare’s mission is to help build a better Internet. With a mission as big as that, we’re careful to align with technologies that can scale with us,” said Usman Muzaffar, Head of Engineering at Cloudflare. “ClickHouse helps us efficiently and reliably analyze logs across trillions of Internet requests to identify malicious traffic and provide customers with rich analytics. We’ve been longtime supporters of ClickHouse, and appreciate how it has allowed us to scale log processing as we’ve built one of the world’s largest networks.”
In August 2021, building off its momentum, ClickHouse incorporated and announced that it had raised a $50 million Series A led by Index Ventures and Benchmark with participation by Yandex N.V. and others. “From the first day we discovered the power of ClickHouse, we knew that this company would be something very special. We are thrilled that great investors like Coatue and Altimeter have confirmed our early beliefs, and we look forward to the road ahead,” said Mike Volpi, partner at Index Ventures.
ClickHouse has a vibrant and rapidly growing community which has been instrumental to its ongoing success. As evidenced by recently surpassing 20,000 GitHub stars, ClickHouse has quickly emerged as one of the fastest growing open-source database projects in the world. By raising $250 million in Series B funding, ClickHouse will double-down on open-source feature development and accelerate the building of a world-class, commercial-grade cloud solution that’s secure, compliant and convenient for any customer to use. With this funding, ClickHouse plans to invest heavily in global growth and will double the size of the company this year, and again in the next. “Companies large and small are adopting ClickHouse because it gives tremendous improvements in data processing efficiency. Our mission is to make ClickHouse the first choice of analytical database management systems, and with this recent investment, we have the resources needed to achieve that ambitious goal,” said Aaron Katz, CEO of ClickHouse.
“We see a massive opportunity for ClickHouse to move the world of data infrastructure and analytics forward,” said Kevin Wang, partner at Altimeter Capital. “ClickHouse is radically transforming the way companies manage data analytics at scale, and this growth capital will fuel the vision to bring this to the global market. We’re excited to partner with Alexey, Yury, Aaron, and the world-class team at ClickHouse to build an iconic and market-leading company.”
ClickHouse is an open-source, column-oriented OLAP database management system that allows users to generate analytical reports using SQL queries in real-time. Its technology works 100-1000x faster than traditional database management systems, and processes hundreds of millions to over a billion rows and tens of gigabytes of data per server per second. With a widespread user base around the globe, the technology has received praise for its reliability, ease of use, and fault tolerance. Learn more at clickhouse.com.