US-based distributed database software provider Cockroach Labs secured $160m in funding yesterday from investors including GV, an early-stage investment subsidiary of internet and technology group Alphabet, at a $2bn valuation.
Growth equity firm Altimeter Capital led the round, which also featured Greenoaks, Lone Pine, Benchmark, Bond, FirstMark, Index Ventures and Tiger Global Management.
Cockroach is the developer of CockroachDB, a distributed database platform utilising the SQL programming language, designed for use with cloud applications and services. It said it has doubled both revenues and the size of its customer base in the past year.
The company has raised $355m since it was founded in 2015, $6.3m coming in a series A round the same year that was led by Benchmark and backed by GV, FirstMark and Sequoia Capital.
GV, Sequoia Capital, Index Ventures and Benchmark Capital provided $20m in series A1 funding for Cockroach in 2016 before it added $27m in series B funding from GV, Redpoint Ventures, FirstMark, Index Capital, Benchmark and Work-Bench the following year.
Altimeter led the company’s $55m series C round in 2019, investing alongside GV, Benchmark, Index Ventures, Redpoint Ventures, FirstMark, Work-Bench and Tiger Global.
Cockroach raised a further $87m in a May 2020 series D round co-led by Altimeter Capital and Bond that also featured GV, Benchmark, Index Ventures, Sequoia Capital and Tiger Global.
