– USA, MA – TileDB, Inc. has secured a $15M Series A investment round led by Two Bear Capital, joined by Uncorrelated Ventures and all existing investors: Nexus Venture Partners, Intel Capital, and Big Pi Ventures.
Concurrent with the financing, Montana philanthropist and Two Bear Capital Managing Partner Mike Goguen will join the Board of Directors.
“Many of the world’s most urgent problems – from COVID to climate change – require the analysis of large volumes of data in order to find solutions. TileDB’s technology addresses the infrastructure deficit that adds friction, delay, and cost to generating the key insights and discoveries needed from this data,” said Mike Goguen, Managing Partner at Two Bear Capital and lead investor. “We are excited to partner with Stavros and TileDB to build an enduring company delivering massive value for the developers and enterprise customers working to solve these and other critically important problems.”
The funding will help the company expand go-to-market and product development for its “universal data engine,” a novel database that goes beyond tables to manage any complex data and beyond SQL to analyze the data with any tool, all serverless and at planet scale.
The Series A financing comes after TileDB was chosen by customers who experienced two key pains: scalability for complex data and deployment. Whole-genome population data, single-cell gene data, Spatio-temporal satellite imagery, and asset-trading data all share multi-dimensional structures that are poorly handled by monolithic databases, tables, and legacy file formats. Newer computational frameworks evolved to offer “pluggable storage” but that forces another part of the stack to deal with data management. As a result, organizations waste resources on managing a sea of files and optimizing storage performance, tasks traditionally done by the database. Moreover, developers and data scientists are spending excessive time in data engineering and deployment, instead of actual analysis and collaboration.
“We flipped the data management model,” said Dr. Stavros Papadopoulos, CEO and original creator of TileDB. “We invented a database that focuses on universal storage and data management rather than the compute layer, which we’ve instead made `pluggable.` We cleared the path for analytics professionals and data scientists by taking over the messiest parts of data management, such as optimized storage for all data types on numerous backends, data versioning, metadata, access control within or outside organizational boundaries, and logging. On top, we developed numerous APIs for fast direct data access and efficient integrations with a growing set of popular tools such as Spark, Dask, MariaDB and PrestoDB. Finally, we built a serverless infrastructure for easy, secure cross-organizational sharing and scalable compute, called TileDB Cloud.”
For more information : https://tiledb.com
About Two Bear Capital
Two Bear Capital was founded and is led by veteran VC, Montana resident, and philanthropist Mike Goguen. With offices in Whitefish, MT, Mountain View, CA, and San Diego, CA, the firm invests in disruptive innovations to deliver dramatically better solutions to problems in health, security, and wellness. In addition to Sequoia veteran Mike Goguen, the Two Bear team includes highly trained and skilled scientists and PhDs in bioinformatics, genetics, bioengineering, neurobiology, machine learning, and human-machine interfaces.
For more information: https://twobearcapital.com
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