PingCAP raises $270M to develop core technologies and advance global expansion of its offerings

2020-11-18 00:00

"We are committed to building the database of the future-a one-stop solution that will help organizations leverage their data and improve their productivity, and we are glad to see this mission played out in the market," said Max Liu, PingCAP co-founder and CEO. "With this funding, we can continue to develop our core technologies, advance the global expansion of our offerings, especially the TiDB Cloud product, and our solutions and services, as well as our open-source community and ecosystem."

TiDB is an open-source hybrid transactional and analytical database targeted at companies that need to handle large volumes of data and scale quickly.

In June 2020, PingCAP announced the beta release of TiDB Cloud, the fully managed TiDB service that allows users to access the full power of TiDB and focus more on their applications.

"TiDB's thriving global ecosystem, including its diverse contributors, myriad adopters, and its partnership with multiple organizations, powers accelerating product development and validates TiDB's ability to serve the most challenging scenarios across multiple global industries," said Glenn Solomon, partner at GGV Capital.

"TiDB is a thriving open-source project, and we have strong confidence in the PingCAP leadership team to enable a growing number of global organizations to flourish and succeed with TiDB.".

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