InfluxData Secures $16M Series B Financing Led by Battery Ventures Amid New Push to Measure IoT and Real-Time Metrics Data
By Ruth Busbee / Sep 21, 2016 / Press Releases
Company’s Open-Source, Time Series Data & Metrics Platform and Enterprise Product Is Now Generally Available; Rise of DevOps, Sensor Data Driving Market
SAN FRANCISCO, CA (Marketwired) 09/21/16 InfluxData, creator of InfluxDB and the leading open-source platform for managing the increasing volume of “time-series” data, today announced it has secured $16 million in Series B financing led by global investment firm Battery Ventures. InfluxData’s existing investors Mayfield, Trinity Ventures and Bloomberg Beta also participated. As part of the financing, Battery Ventures General Partner Dharmesh Thakker will join InfluxData’s board.
The funding comes on the heels of InfluxData’s release earlier this month of the 1.0 version of its open-source, time-series data platform, along with the general availability of its commercial clustering product, InfluxDB Enterprise.
InfluxData’s data platform is known as the “TICK” stack named for the four software components that collect, store, visualize and process time-series data, which is data that is measured over time. Examples of time-series data include readings from sensors tied to the “Internet of Things” (IoT), data generated by real-time analytics such as those derived from financial markets as well as data created by cloud and container operations that need to be constantly monitored.
InfluxData’s products are already in use at companies including Cisco, eBay, AXA, Solar City, Telefonica and others. The company will use the funds to increase its investment in sales and marketing and to expand product development to better serve its community members and enterprise customers with better data solutions.
Time-series has emerged as a discrete data-management category, different than traditional relational database-management systems offered by vendors such as Oracle and Microsoft and second-generation NoSQL databases such as MongoDB and Cassandra. According to DB-Engines, which ranks the popularity of data-management technologies, time-series was the fastest growing data-management category in the last 12 months, with InfluxData as the leader.
“At Influx we are proud to pioneer this new data-management category and to provide a platform that developers now recognize as the fastest and most powerful way to address their monitoring and metrics needs,” said Evan Kaplan, chief executive of InfluxData. “From tracking trading activity in a market, to analyzing a company’s daily sales performance or managing the deluge of data thrown off by a smart thermostat or car sensor, the use cases for a time-series data management are enormous and accelerating rapidly.” Kaplan was previously the CEO of Wi-Fi company iPass and the CEO and founder of Aventail, the pioneer of SSL-based virtual private networks.
“InfluxData has created a thriving, rapidly expanding open-source community which it knows how to monetize and the company already has a long list of brand-name customers,” said Dharmesh Thakker, general partner at Battery Ventures. “As IoT and DevOps go mainstream, the market for InfluxData’s product will only expand. We are thrilled to partner with the InfluxData team.”
In addition to the new round of funding, this month InfluxData launched the 1.0 version of its flagship open-source project, InfluxDB, and the rest of the TICK stack, the fastest-growing, time-series database platform in the market with over 300 contributors and 35,000 active deployments. The software elements of the stack are Telegraf (T), which collects time-series data and loads it into InfluxDB; InfluxDB (I), which stores data; Chronograph©, which visualizes the data; and Kapacitor (K), which processes data so users can see relevant alerts and analyze it in real-time.
In addition, InfluxData launched the 1.0 version of its commercial offering, InfluxDB Enterprise, which reduces the time it takes to deploy and scale an end-to-end time-series data platform. InfluxDB Enterprise is built for distributed environments and runs on-premise or in the cloud.
“Vonage uses InfluxDB, hosted on the InfluxDB Cloud service, to gain deep visibility into our infrastructure,” said Matt Jones, SVP DevOps at Vonage, which makes call-center and sales software. “InfluxDB’s high-performance and time-series specific capabilities have helped us maintain the highest quality of service to our customers.”
InfluxData is the company behind InfluxDB and the TICK stack, the first open source platform designed from the ground up to manage time-series data at scale. Time-series is the dominate type of data found in the vast majority of IoT/sensor, real-time analytics and custom monitoring use cases. The TICK stack contains everything an organization needs to collect, store, visualize and alert on time-series data when performance, availability and security are of utmost importance. InfluxData is a Y Combinator success story, backed by Trinity Ventures, Mayfield, Bloomberg Beta and Battery Ventures. For more information visit: www.influxdata.com.
About Battery Ventures
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery’s portfolio companies here.