US-based big data technology producer Cockroach Labs raised $20m in a series A1 round yesterday backed by GV, the corporate venturing arm of conglomerate Alphabet formerly known as Google Ventures.
Venture capital firms Index Ventures and Benchmark Capital also took part in the round. Benchmark led a $6.3m series A round for Cockroach in June 2015 that also included GV, FirstMark Capital and Sequoia Capital.
Founded in February 2015 by former engineers of Alphabet subsidiary Google, Cockroach has created open source database technology dubbed CockroachDB, which helps developers ensure a large database is always synchronised throughout the system.
Current technologies struggle with that synchronicity and the issue is expected to worsen as data sets grow at an ever increasing rate, far outstripping the pace of computer processing power development.
Mike Volpi, general partner at Index Ventures, will join Cockroach’s board in conjunction with the round.