GV, a corporate venturing subsidiary of internet and technology conglomerate Alphabet, participated in a $55m series C round for US-based distributed database technology provider Cockroach Labs on Tuesday.
Investment firm Altimeter Capital led the round, which was filled out by commitments from Tiger Global Management, Benchmark, Index Ventures, Redpoint Ventures, FirstMark Capital and Work-Bench. It increased the company’s total funding to more than $108m.
Cockroach’s flagship product, CockroachDB, is an open-source, cloud-native SQL database that enables customers to localise data in compliance with regulations. The company’s customers include audio equipment manufacturer Bose and mass media group Comcast.
Redpoint led a $27m series B round for the company in 2017 that also featured GV, FirstMark Capital, Index Ventures, Work-Bench and Benchmark.
Benchmark had led Cockroach’s $6.3m series A round in 2015, investing with GV, Sequoia Capital and FirstMark. The series A investors joined Index Ventures for Cockroach’s $20m series A1 round the following year.
Spencer Kimball, co-founder and chief executive of Cockroach, said: “As organisations transition to the cloud, they eventually find that legacy relational databases are difficult to scale, inflexible to deploy, and fail to take full advantage of modern cloud capabilities.
“This funding will accelerate our growth within and well beyond the database space, paving the way for CockroachDB to become the preferred platform for global enterprises.”