InfluxData Secures $60 Million in Series D Funding to Bring the Value of Time Series to the Enterprise Mainstream

Norwest leads round, emphasizing strong growth and market potential;
former MongoDB CEO joins board of directors

SAN FRANCISCO–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/influxdb?src=hash” target=”_blank”gt;#influxdblt;/agt;–InfluxData,
creator of the leading time series database InfluxDB, has raised $60
million in Series D funding, led by Norwest
Venture Partners
and joined by Sorenson Capital and existing
investors Sapphire Ventures, Battery Ventures, Mayfield Fund, Trinity
Ventures and Harmony Partners.

The proliferation of data continues to grow, prompted mainly by the
instrumentation of the virtual (e.g., Kubernetes, microservices) and
physical (e.g., IoT sensors) worlds. As enterprises look for ways to
achieve better results, gain new insights and grow their customer base,
analysis of time series data is critical and is driving the need for
purpose-built solutions. InfluxDB is the leading time series database –
which has been the fastest growing database category over the last two
years, according to DB-Engines,
the industry ranking authority. InfluxData more than doubled revenue,
new customer logos, and employees in 2018 and is positioned to
accelerate momentum through 2019 and beyond. To date, most of the
company’s growth can be attributed to great product-market fit, a
developer-focused approach and demand from the open source community.

“InfluxData’s time series vision is the future of data management,” said
Rama Sekhar, partner at Norwest Venture Partners and new InfluxData
board member. “Enterprises are experiencing a data revolution with
massive increases in volumes of data. InfluxData is empowering
enterprises to discover insights about their data by organizing it in
the time dimension, a critical approach for use cases such as DevOps
observability and IoT analytics. Developer support is also key in this
space and the cult-following from the open source community signals a
unique vision and value.”

The new infusion of funds will support further investment in product
innovation, with increased focus on the cloud, and building out sales
and marketing programs to meet growing product demand, as well as
customer support needs. InfluxData will begin to market its solutions
for specific uses, including industrial IoT and network monitoring, and
target industries such as e-commerce, gaming and financial services.

“A majority of data is best understood in the time dimension, which is
why time series data is the foundation of so many of today’s critical
technology investments, including IoT, observability, machine learning
and predictive analytics,” said Evan Kaplan, CEO of InfluxData. “The new
funding will enhance our ability to deliver versatile solutions to
countless companies looking to harvest insights from time and support
our aggressive plans to scale the company. We’re also honored to have
such esteemed individuals joining our board of directors to enhance our
strategic direction.”

“InfluxData has demonstrated consistent growth in a market with
tremendous potential, which is why we’re strengthening our commitment in
this round of funding,” said Anders Ranum, managing director at Sapphire
Ventures
and member of the InfluxData board of directors. “The
company continues to innovate its technology, pushing the boundaries
when it comes to time series data solutions and is transforming its
business model to support current and future demand. There are great
things coming from InfluxData.”

InfluxData is also proud to welcome Max Schireson, entrepreneur in
residence at Battery Ventures and former CEO of MongoDB, to its board of
directors. Schireson brings a wealth of database industry experience,
having led and advised cloud, big data and open source technology
companies through hyper-growth transformational phases.

InfluxData closed $35 million in Series C funding in January 2018, led
by Sapphire Ventures and joined by Harmony Partners and existing
investors Battery Ventures, Mayfield Fund and Trinity Ventures. Other
past investors include Bloomberg Beta and Y Combinator.

About InfluxData

InfluxData,
the creator of InfluxDB, delivers a modern open source platform, built
from the ground up, for analyzing metrics and events (time series data)
for DevOps and IoT applications. Whether the data comes from humans,
sensors, or machines, InfluxData empowers developers to build
next-generation monitoring, analytics, and IoT applications faster,
easier, and to scale delivering real business value quickly. Based in
San Francisco, InfluxData has more than 450 customers including Cisco,
eBay,
IBM
and Siemens.
For more information, visit www.influxdata.com.
Twitter: @influxdb.

About Norwest Venture Partners

Norwest is a leading growth equity and venture investment firm managing
more than $7.5 billion in capital. Since its inception, it has invested
in more than 600 companies. The firm invests in early- to late-stage
companies across a wide range of sectors with a focus on consumer,
enterprise, and healthcare. It offers a deep network of connections,
operating experience, and a wide range of impactful services to help
CEOs and founders advance on their journey. Norwest has offices in Palo
Alto and San Francisco, with subsidiaries in India and Israel. For more
information, visit Norwest
and follow on Twitter @NorwestVP.

Contacts

Amy Scarlett
415-662-8322 | media@influxdata.com