InfluxData, the US-based developer of an open source data management platform, has secured $16m in series B funding from investors including media group Bloomberg’s corporate venturing arm, Bloomberg Beta.
Investment firm Battery Ventures led the round, which also featured venture capital firms Mayfield and Trinity Ventures, both of which are existing investors.
InfluxData has built an open source platform that can collect, store, visualise and alert users about time-series data used for internet-of-things and real-time analytics products.
Evan Kaplan, CEO of InfluxData, said: “At Influx we are proud to pioneer this new data-management category – and to provide a platform that developers now recognise as the fastest and most powerful way to address their monitoring and metrics needs.
“From tracking trading activity in a market, to analysing a company’s daily sales performance or managing the deluge of data thrown off by a smart thermostat or car sensor, the use cases for a time-series data management are enormous and accelerating rapidly.”
Founded as Errplane, InfluxData was one of the first recipients of funding from Bloomberg Beta when it launched in 2013. The company added $8.1m from Mayfield and Trinity Ventures in late 2014.