InfluxData Closes Series E Round and Raises $81 Million in Capital
By Evan Kaplan / Feb 08, 2023 / InfluxData
Today is an important milestone for InfluxData. I am thrilled to share that we closed our $51 million Series E round, and a $30 million debt facility, raising $81 million in capital. The Series E round was led by our new investors Princeville Capital and Citi Ventures, with participation from our existing investors Battery Ventures, Mayfield Fund, Sapphire Ventures, Trinity Ventures, Norwest Venture Partners, Sorenson Capital, and Harmony Partners. I’m also excited to announce the addition of Princeville Capital’s Vivian Huang to our Board of Directors.
For us at InfluxData, today’s news is bigger than an investment. It’s a validation of the acceleration of the time series market and the long-term opportunity in front of us. It also reinforces our mission to give developers the tools they need to innovate with time series data.
Leading the time series market with InfluxDB
Time series data is all around us. As enterprises move large volumes of data to the cloud, the volume of time series data these systems and processes generate continues to grow exponentially. Organizations use time series data to understand change and to identify and predict trends over time. With so much time series data available, organizations in every industry and vertical need tools to help preserve and understand their data through the lens of time.
Most enterprises already utilize their time series data, but many are still just starting their journey with purpose-built databases for their time-stamped data. We continue to evangelize to these enterprises, as well as to developers who are already deep in the world of time series. These realities, coupled with the exponential growth of devices and sources producing time series data, make the need for InfluxDB greater than ever. The time series market is increasingly vibrant with a good selection of strong competitors – we are excited and ready to compete on a broader level as this market expands.
As the pioneer of the modern time series market, InfluxData played a pivotal role in driving its recent growth. I credit much of this to our Founder and CTO, Paul Dix, who saw the opportunity in front of him to extract value from time series data amid the rise of modern applications – especially those in IoT, financial services, and Web3 – and his relentless focus in pushing the category forward.
The journey ahead
With this funding, our path forward is clear: usher in a new era of data intelligence that combines time series and real-time analytics. All this is powered by our new database engine, InfluxDB IOx. We will scale the rollout of our new database engine to make InfluxDB more accessible to an even wider population of developers.
InfluxDB IOx represents a massive leap forward for our core database technology. It’s now easier than ever for developers to get started working with time series data and to derive value from it. With comprehensive SQL support, real-time query performance, and unbounded cardinality, all built around a strong open source foundation of Apache Arrow, DataFusion, Flight SQL, and Parquet, we have reimagined InfluxDB to power the most sophisticated and large-scale analytics use cases on the market.
In the coming months, we will deploy many new features on top of the new database core: bulk data ingest, bulk data export, integrations with other third-party systems, and more. We also plan to launch dedicated cloud tiers and a new on-prem InfluxDB Enterprise product based on this new database core. The intent behind each feature is clear: power real-time analytics across high-cardinality time series data.
I’m incredibly bullish on the opportunity in front of InfluxData and the expanding time series market. We’ve surpassed more than 1,900 commercial customers globally and amassed a strong open source community of 750,000 running instances of InfluxDB and millions of Telegraf agents out in the wild, collecting the data at the heart of many projects and applications. A glance through GitHub shows nearly 25,000 stars for InfluxDB, and our vibrant user community contains thousands of users looking for the best way to handle their own time series data needs.
I want to close by saying thank you: To our community of users and customers, to our new and existing investors for their investment in our vision, and finally to our incredible team of Influxers. Together, we will work to build on the momentum we’ve created and continue to transform the industry with a time series platform developers truly love.