TigerBeetle Raises $24 Million in Series A Funding Round
Key Highlights:
- Funding Details:
- Amount Raised: $24 million
- Lead Investor: Spark Capital general partner Natalie Vais
- Other Investors:
- Lenny Pruss of Amplify Partners
- Stefan Thomas of Coil
- Angel investors including:
- Alexander Gallego, founder and CEO of Redpanda
- Uriel Cohen, co-founder and executive chairman of Clear Street
- Sachin Kumar, co-founder and CTO of Clear Street
- Alex Rattray, former Stripe software engineer and founder of Stainless
- Total Capital Raised:
- Current Total: Over $30 million
- Previous Funding: $6.49 million in seed funding in January 2023
- Company Background:
- Founded: 2022
- Founder: Joran Dirk Greef, former Microsoft security consultant
- Product: Open source Apache 2.0 database for high-performance online transaction processing (OLTP)
- Transaction Capability: Processes up to 8,190 debit/credit transactions per query in a single network round-trip
- Global Presence: North and South America, Europe, Africa, Asia
- Team: 8 employees, half of whom are staff engineers
- Strategic Decisions:
- Series A Timing: Initially planned for later in the year, brought forward due to community growth and commercial interest
- Use of Funds:
- Investment in engineering
- Go-to-market strategies
- Development of TigerBeetle’s cloud platform
- Doubling team size by end of year, with several new hires being former contractors familiar to the company
