PingCAP, the San Mateo company behind open-source NewSQL database TiDB, just announced the closing of a $270M Series D round. The round, which PingCAP says will enable them to continue their global expansion, was led by an impressive list of investors including GGV Capital, Access Technology Ventures, Anatole Investment, Jeneration Capital and 5Y Capital. This Series D round comes more than 2 years after PingCAP’s $50M Series C and brings their total capital raised to $341.6M since launching in 2015.
According to the Fuel platform, total funding and total rounds for open-source companies have been growing at a steady pace since 2010 reaching a peak in 2018. Since then, it is possible that investors have realized that the time to scale for an average open-source based company often exceeds 10 years. This extended timeline from development, to adoption, to monetization and finally scaling, may have led to reduced interest in recent years from the investor community.
York IE Hires New Accounting Manager: Kaelyn Sullivan
Growing up, children idolize their parents. They hang on every word they say, put them on a pedestal, and aim to grow up and follow