Yugabyte valued US$1.3 billion following US$188 million Series C funding round closing

KUALA LUMPUR, Nov 2 -- Yugabyte, the leader in open source distributed SQL databases, has closed US$188 million in an oversubscribed Series C funding round recently. (US$1 = RM4.147)

The round, led by Sapphire Ventures, includes participation from Alkeon Capital, Meritech Capital, and Wells Fargo Strategic Capital, as well as existing investors Lightspeed Venture Partners, 8VC, Dell Technologies Capital, Wipro Ventures, and others.

According to a statement, Sapphire President Jai Das also joins the Yugabyte Board of Directors.

“We are thrilled to have more resources at our disposal to help us better serve our customers, and we are excited to draw on Jai’s wealth of knowledge in this space going forward,” said Yugabyte Chief Executive Officer, Bill Cook.

The round, which comes seven months after its previous round, brings the company’s total funding to over US$290 million and values Yugabyte at more than US$1.3 billion.

YugabyteDB is the database of choice for cloud-native global applications, trusted by organisations like Wells Fargo, Kroger, Hudson River Trading, Narvar, and others.

YugabyteDB offers unmatched flexibility, continuous availability and speed for born-in-the-cloud applications as well as mission-critical enterprise microservices.

The funding comes on the heels of the launch of Yugabyte Cloud, Yugabyte’s fully managed database-as-a-service offering, announced in September.

The influx of capital will be used to further grow Yugabyte’s field and engineering teams and fuel the company’s expansion into new markets.

This will enable faster enterprise adoption of the Yugabyte Cloud product offerings which deliver a streamlined operational experience for running YugabyteDB in any public, private, or hybrid cloud or Kubernetes infrastructure.

More details at www.yugabyte.com.

-- BERNAMA