Another cloud native SQL database unicorn: Yugabyte raises $188M Series C funding at $1.3B valuation
A number of successive funding rounds have given Yugabyte unicorn status while positioning the company to aim for a big piece of a growing pie in the shape-shifting database market.
Not so long ago, in June 2020, we noted that a new database category seemed to be on the rise. Those databases are cloud-native, globally distributed, and SQL-compliant, a category also known as NewSQL.
After a series of funding rounds, today it’s Yugabyte‘s turn to announce that it has closed $188 million in an oversubscribed Series C. This brings the company’s total funding to over $290 million and values Yugabyte at more than $1.3 billion. In other words, we have now have another NewSQL unicorn in Yugabyte.
We connected with Yugabyte CEO Bill Cook and co-founder Karthik Ranganathan to discuss Yugabyte’s funding and growth, as well as database market trends.
This Series C is Yugabyte’s third funding round in the last 1.5 years. After the Series B in June 2020, the company raised an additional 47 million at the beginning of 2021. As Cook noted, they thought that would be adequate for another year and a half before they started contemplating a Series C.