TigerGraph secures US$105 million to boost cloud graph analytics

KUALA LUMPUR, Feb 18 -- TigerGraph, a leading graph analytics platform provider, has raised US$105 million in Series C funding. (US$1 = RM4.0350)

To date, this is the largest funding round within the graph database and analytics market.

According to a statement, the round was led by Tiger Global and brings TigerGraph’s total funding raised to over US$170 million.

The investment reflects TigerGraph’s growth and massive potential as businesses continue to move to the cloud.

With its distributed native graph architecture, TigerGraph helps organisations scale fast and analyse many different aspects of data to be used with each other to form new models and generate new insights.

According to Gartner, by 2023, graph technologies will facilitate rapid contextualisation for decision making in 30 per cent of organisations worldwide.

“The human brain connects data to derive new insights and helps us decide what to do next,” said TigerGraph’s founder and chief executive officer, Dr Yu Xu.

“TigerGraph’s mission is to power an enterprise brain with graph and AI that discovers these new insights within the enterprise data stored in the cloud and on-prem.

“This funding will allow us to expand our offering and bring it to many more markets, enabling more customers to realise the benefits of graph analytics and AI.”

-- BERNAMA