The founded by Greek entrepreneur and research scientist Stavros Papadopoulos TileDB announced that it had received a $15M (€13.2m) Series A investment. US-based Two Bear Capital led the round and was joined by Uncorrelated Ventures as well as previous investors – Nexus Venture Partners, Intel Capital, and the Greek seed-stage fund Big Pi Ventures.
This backing will help the headquartered in Cambridge, Massachusetts, data management startup to expand its go-to-market efforts and scaling of its product development teams, as the company is planning to reach 40 people by next year, out of which 15 will be in Greece.
“We flipped the data management model. 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.” reads a statement by Dr. Stavros Papadopoulos.
In addition, the company has developed numerous APIs for quick and efficient integration with many popular data tools such as Spark, Dask, MariaDB, and PrestoDB. The team has also built a serverless infrastructure for easy, secure cross-organizational sharing and scalable computing.
TileDB’s technology serves three main use cases – storage and analysis at scale of very large amounts of genomic variant data; geospatial analytics for meteorology, climate science and earth observation; and handling of complex data frames.
According to Papadopoulos, his company solves two main customer pains – scalability for complex data and deployment.
“Many of the world’s most urgent problems – from COVID-19 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. 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,” commented Mike Goguen, Managing Partner at Two Bear Capital, the lead investor in the round.