HANGZHOU, China, Dec. 15, 2020 /PRNewswire-PRWeb/ -- The developer
of the Nebula Graph™ database, vesoft Inc., today announced it
raised an additional $10 million in
venture capital funding in a series pre-A+ funding round. Source
Code Capital was the lead investor. Previous investors Matrix
Partners China and Red Point China Ventures also contributed to
this round. The graph database solution has now landed $18 million in funding in 2020.
The previous $8 million in funding
was secured in June 2020. Then, the
lead investor was Redpoint China Ventures and Matrix Partners China
contributed too. Matrix Partners China had also previously
contributed as an angel investor. The funding will be used for
continued product development and to also bring Nebula Graph to
market in North America and
Europe, including as a cloud
service. Nebula Graph currently has many large customers throughout
Asia.
Nebula Graph was developed to disrupt the big data market. It
provides the highest performing graph database specifically for the
needs of the largest organizations with the largest datasets in the
world. Nebula Graph empowers data scientists, CTOs, CIOs, and
others to store and process billions of data points with trillions
of relational connections. This is a capability previously not
possible in other solutions without crippling performance
penalties.
"The large potential behind big data still remains untapped in
many cases," said Sherman Ye, CEO,
and founder of vesoft, Inc. "It is trapped within the world's
largest datasets because available technology has been limited in
performance to decipher its potential. Nebula Graph is specifically
designed to unleash that hidden intelligence with high performance.
We're excited this new funding will help foster Nebula Graph's
continued strong growth."
"When communicating with entrepreneurs from different sectors,
we noticed that companies of today are increasingly eager to
discover values from the huge amount of relational connections,
trying to draw lines and form graphs among people, goods, digital
contents, locations, devices, words, neurons, atoms, etc.," said
Runze Chen from Source Code Capital. "A graph database can provide
native support for those demands, and a more advanced one will be
needed when companies try to deal with huge amounts of complex
relations in real-time operations. The vesoft team has very rich
experiences in graph databases. They have proved themselves by
developing a state-of-the-art graph database for the most
challenging business scenarios. And now, they are on a new journey
to develop the next-generation cloud native and high-performance
graph database, Nebula Graph. We hope Nebula Graph can help more
and more customers to take full advantage of their accumulating
datasets."
"Graph databases are one of the fastest growing product types in
the database industry," commented Kevin
Xiong, the partner at Matrix Partners China, on why they
continued investing in vesoft Inc. "Meanwhile, it is the inevitable
trend for graph databases to go from single-node to
distributed-mode. As an open-source distributed graph database
solution, Nebula Graph has been adopted and battle tested by many
Internet companies such as WeChat, Meituan, Xiaohongshu, and Zhihu
in their production environment. The product has been expanding
very fast. We are very positive about the long-term development of
vesoft Inc. and are looking forward to it becoming the leading
open-source infrastructure in the world thanks to its adoption in
first-class business scenarios in China, the world's biggest market."
"We are very glad to see that, after less than half a year since
Redpoint China Venture led the Pre-A round funding, vesoft Inc.
once again has gained the support from other venture companies,"
said Liu Lan, principal of Redpoint
China Ventures. "Graph databases are a significant racing track in
the data digitization tide, and it will play an important role in
the decision-making process for companies. vesoft Inc. has been a
leader of startups from the very beginning. During the past few
months, the team has been working efficiently to deliver an
excellent product and the product has been deployed in business
scenarios of top internet companies very quickly. By steadily
conquering industry leading companies as customers, vesoft Inc. has
kept a leading position in this field. We speak highly of the
team's development and implementation capability and continue
investing in vesoft Inc. We look forward to its fast development
and a better future."
About the Database Market
Graph databases are disrupting the near $50
billion market for the traditional Relational Database
Management System (RDBMS). This is because large organizations
today require big data and business analytics exceeding RDBMS
capabilities.
Funding for graph databases like Nebula Graph has been strong.
Graph databases are different from RDBMS databases because they
store deep relationship characteristics about data within data
itself. A graph database is capable of efficiently managing
millions of transactions or more to uncover how data sets relate to
each other. They essentially remove the six degrees of separation
that exists within scattered data to uncover intelligence hidden
within.
About Nebula Graph
Nebula Graph is an open-source graph database that is now
commercially available. It was developed by vesoft Inc. engineers
that collectively have many years of leadership experience at some
of the world's most recognizable technology companies, such as
Alibaba, Facebook, Huawei, and IBM.
The database is ideal for a CIO seeking to uncover the value of
connected business data. Data Architects are another ideal user,
who typically look to process connected data cost-effectively.
Finally, Data Scientists will find it useful to explore the value
buried in connected data. There are many markets that have large
amounts of information that is meaningless stored in separate
silos. Nebula Graph is ideal to mine and uncover meaningful
relationships in such information.
About vesoft Inc.
VEsoft Inc. has created Nebula Graph, the world's most capable
database for big data analytics discovery. Nebula Graph provides an
industry-best capability of storing and handling billions of
vertices and trillions of edges, with just milliseconds of latency.
Its shared-nothing deployment architecture, removing any single
point of failure and allowing fast recoveries, enables the
industry's best business continuity. The company has secured series
pre-A funding of $8 million with
investors Redpoint China Ventures and Matrix Partners China. To
learn more, visit https://nebula-graph.io/.
About Source Code Capital
With USD $ 1.5 billion and
RMB 8.8 billion under management,
Source Code Capital has been successfully partnering with around
200 leading technology founders since inception in 2014. Source
Code Capital invests across both early and growth stages, with a
focus on Internet+, AI+, and Global+ within sectors such as media
and entertainment, consumer services, enterprise, finance, retail,
transportation, housing, education, and healthcare. Portfolio
companies of Source Code Capital include: Ke Holding Inc.; Li Auto,
NIU Technologies, Meili Inc., Qudian, and others. For more
information, visit https://sourcecodecap.com/.
About Redpoint China Ventures
Redpoint China was launched in 2005 focusing on early-stage
investments in enterprise IT services, frontier-tech, and consumer
Internet opportunities in China.
Redpoint China has invested in more than 80 companies, including
Qihoo 360, iDreamSky, Domob, APUS, Bangcle and Qutoutiao. Since its
inaugural China focused fund in
2016, Redpoint China Ventures has become an independent platform
with headquarters in Shanghai and
branch offices in Beijing and
Shenzhen. Currently, the firm
manages close to $1 billion across
multiple funds in both USD and RMB denomination. For more
information visit: http://www.rpvchina.com/.
About Matrix Partners China
Matrix Partners China, an early-stage Venture Capital firm in
China which founded 12 years ago.
During the past decade, comprehensive performance of our fund is
consistently among the top. Matrix Partners China is the
early-stage investor in many newly listed companies such as Lixiang
(electric vehicle), Xiaopeng (electric vehicle), Peijia (medical
instruments). Matrix China has
also invested in many great companies: Didi (ride sharing), Ele.me
(food delivery), Guazi.com (secondhand auto marketplace), Momo
(social), Yuanfudao (online education), VIPKID (online education),
FUTU (fintech), etc.
Matrix Partners China combines local knowledge with global
experience and vision. Matrix Partners China is committed to
building long-term relationships with outstanding entrepreneurs and
helping them build significant, industry-leading companies. For
more information visit:
https://matrixpartners.com.cn/index.php/en/.
Note: Whether noted or not, references to certain words may be
trademarks or registered trademarks of their respective owners.
Media Contact
Jamie Liu, vesoft, Inc., +86
18268192008, jamie.liu@vesoft.com
Rafael Larin, Emissary
Communications, rafael@emissarypr.com
SOURCE Nebula Graph