US-based data programming software provider Fauna has secured $27m in funding from investors including GV, a corporate venturing subsidiary of internet and technology conglomerate Alphabet.
Venture capital firm Madrona Venture Group led the round, participating alongside Addition, CRV, Quest Ventures and private investors Tom Preston Werner and Roger Bamford.
Fauna’s distributed storage and computing software powers a serverless application programming interface (API) for data storage. It revealed the round with the appointment of Eric Berg, previously chief operating officer of identity management technology provider Okta, as CEO.
Berg said: “Fauna offers a disruptive value proposition at the operational data layer for developers working on the next generation of mobile and web applications.
“Application databases have long been associated with functional and operational friction, while being a core component of any application stack. Fauna has the right architecture, the right team and the right investors to deliver massive value to the industry. I am thrilled to be part of this journey.”
The company closed its series A round at $25m in early 2018, with GV joining internet groups NHN and Naver, messaging software provider Line and Capital One Growth Ventures, a VC subsidiary of financial services provider Capital One.
Point72 Ventures, Afore Capital and Costanoa Ventures also participated in the series A round, which followed $4.5m from CRV, Quest Venture Partners, Data Collective, Webb Investment Network, Ulu Ventures and various individuals in 2016.
