TigerGraph, a provider of graph analytics platform, has announced it has raised US$105 million in Series C funding, the largest funding round to date within the graph database and analytics market.
According to the company, the round was led by Tiger Global and brings TigerGraph’s total funding raised to over US$170 million.
The investment reflects TigerGraph’s growth and the massive potential as businesses continue to move to the cloud. With the transactional and analytical workloads moving to the cloud made possible by companies like Snowflake, Confluent and Databricks, TigerGraph is quickly becoming the graph database of choice to connect, analyse and learn new insights from the data.
With its distributed native graph architecture, TigerGraph helps organisations scale fast and analyse many different aspects of data to be used with each other to form new models and generate new insights. These new patterns and insights enhance a company’s analytics or machine learning capabilities and can be deployed anywhere with multi-cloud flexibility and support the data security requirements for regulatory compliance.
“For over 40 years, businesses’ number one data management challenge has been how to easily ask business questions across all of their data in real time to guide their operations. The human brain connects data to derive new insights and helps us decide what to do next. TigerGraph’s mission is to power an enterprise brain with graph and AI that discovers these new insights within the enterprise data stored in the cloud and on-prem,” said Dr. Yu Xu, Founder and CEO, TigerGraph. “TigerGraph is leading the paradigm shift in connecting and analysing data via scalable and native graph technology with pre-connected entities versus the traditional way of joining large tables with rows and columns. This funding will allow us to expand our offering and bring it to many more markets, enabling more customers to realise the benefits of graph analytics and AI.”
“By 2023, graph technologies will facilitate rapid contextualisation for decision making in 30 percent of organisations worldwide,” according to Gartner.
Mark Beyer, VP Analyst with Gartner, said: “Organisations of all sizes are adopting graph-based analytics and AI by leveraging the relationships in the connected data to drive better outcomes. TigerGraph is galvanising the graph and AI community, organising the first open industry Graph + AI Conference featuring presentations by innovators including UnitedHealth Group, Jaguar Land Rover, Intuit, Intel, Xilinx and Accenture.
Click below to share this article