Chinese Software Startup PingCAP Raises $15M in Series B and Strides Towards the Global Market
PingCAP (https://pingcap.com/index), a Beijing-based provider of open source distributed HTAP (Hybrid Transactional/ Analytical Processing) database solutions, just raised $15M in Series B funding. The round was led by China Growth Capital and followed by Matrix Partners China, Yunqi Partners, FREES FUND, and K2VC.
This round of funding will be used for expediting product development and expanding its presence in the global market.
Founded in 2015 by Max LIU, CEO, Edward HUANG, CTO, and Qiu CUI, PingCAP is headquartered in Beijing, China. Currently, the core research and development team consists of top-talented members from the database industry, including the authors of several open source projects such as Codis, SenserDB, etc.
After decades of struggle in the battlefield of database solutions, users finally see the dawn. Transaction or scalability? OLTP or OLAP? These are no longer either/or questions. Now, PingCAP offers you both. Inspired by Google F1 and Spanner, PingCAP builds TiDB, an open source distributed HTAP database featuring in horizontal scalability, high availability, and strongly consistent distributed transactions.
TiDB has now gained more than 8400 stars on Github (https://github.com/pingcap/tidb). Statistically speaking, a single TiDB cluster has been tested with 500 nodes with a data volume of 200TB.
TiDB has been widely adopted in the production environment even before it’s officially released by dozens of leading companies from booming industries in China, including the Internet industry, the gaming industry, the financial industry, the telecom industry, etc. The GA version will be launched soon.
Gaea Mobile (http://www.gaea.com/en/about), a global interactive entertainment company, replaces its MySQL RDS solution with TiDB to support GaeaAD system, the cross-platform real-time advertising system. They are now planning to migrate businesses that demand high real-time, large storage capacity and longer storage cycle to TiDB.
Mobike (http://www.mobike.com/global/), the world’s largest bicycle operator according to WIKIPEDIA (https://en.wikipedia.org/wiki/Mobike), uses TiDB for big data analysis and as the replacement of MySQL database for online orders.
“Inspired by Google Spanner and F1, PingCAP’s product TiDB, an open-source HTAP database, has been highly applauded in the international developer community. With many active contributors and enthusiastic users, TiDB addresses the core issues that have long plagued the industry, allowing the customers’ business to grow quickly without being limited by database. We believe TiDB will become the infrastructure for the ‘big data era’. China Growth Capital is delighted to lead this round and be a proud supporter of PingCAP, a globally leading infrastructure software team.” said Haiyan WU, Managing Partner of China Growth Capital.
“PingCAP is one of the few Chinese companies that has its own core technology in the open source project for big data infrastructure with a global impact. We are delighted to see the great achievements they have in their product and commercialisation. As the lead of the previous round, we are happy to continue our funding and support.” says, Yu CHEN from Yunqi Partners.