US-based graph database platform developer TigerGraph has collected $32m in a series B round led by quantitative trading firm Susquehanna International Group.
Founded in 2012 and formerly known as GraphSQL, TigerGraph markets a cloud-based graph database platform for enterprise users that facilitates deep, real-time analysis of huge, complex datasets with greater cogency than is possible with relational data modelling.
Although major tech companies already employ graph-based analytics, they require specialist expertise which can deter smaller software developers, whereas TigerGraph claims its technology can be handled by a wider range of users.
The company’s platform has applications in fraud prevention, the optimisation of supply chain logistics, personalised recommendations and smart grid management, and can be used as the basis for artificial intelligence and machine learning-based systems.
The funding will support the next stage of TigerGraph’s growth plans, including an expansion in Europe that will be spearheaded from new offices in Berlin and London as it looks to carve a greater foothold in the market. It has also brought out a free-to-use licence to attract new users to its platform.
The company had previously raised $31m in a 2017 series A round that attracted internet company Baidu and financial services firm Ant Financial, as well as Qiming Venture Partners, DCVC, AME Cloud Ventures, Morado Ventures, Danhua Capital and Zod Nazem. Its total funding now stands at $65m.