US-based database software provider PingCap received $270m today in a series D round that included Bertelsmann Asia Investments, a corporate venture capital vehicle for media group Bertelsmann.
GGV Capital, Access Technology Ventures, Anatole Investment, Jeneration Capital and 5Y Capital co-led the round, which also featured Coatue Management, FutureX Capital, Kunlun Capital, Trustbridge Partners, Matrix Partners China and Yunqi Partners.
PingCap is the creator of an open-source distributed database platform called TiDB as well as a version called TiDB that has been tailored for use on cloud platforms such as Amazon Web Services and Google Cloud.
The company said in a statement announcing the round: “Our series D funding will let us expand our development and bring our products to more people.
“We will triple our R&D forces all around the world, especially for our TiDB Cloud product, and advance our global expansion and growth in North America, Japan, Asia Pacific and Europe.
“We will also continue our investment in the open-source community and ecosystem to empower the contributors, adopters, partners and customers.”
Diversified conglomerate Fosun led the company’s last round, a $50m series C in 2018, with 5Y Capital (then known as Morningside Venture Capital), investing alongside Yunqi Partners, Matrix Partners China, Frees Fund, China Growth Capital and K2VC.
PingCap had secured $15m in a 2017 series B round led by China Growth Capital and backed by Matrix Partners China, Yunqi Partners, Frees Fund and K2VC. It had previously raised undisclosed amounts from investors including Yunqi Partners and Matrix Partners China.
