Led by FirstMark and Georgian, the Multi-Model
Database has emerged as the Developer's choice for Database
Consolidation
LONDON, June 18, 2024 /PRNewswire/ -- SurrealDB, the
ultimate multi-model database, today announced a $20 million investment round led
by FirstMark and Georgian with participation from Crew
Capital and Alumni Ventures. This latest round of funding brings
SurrealDB's total to $26 million.
In addition, the company has announced the beta launch of
Surreal Cloud. Interested parties can sign up now to gain access:
https://surrealdb.com/signup
A rapidly growing number of enterprises use SurrealDB to
consolidate their databases into one multi-model platform. Due to
its flexibility and simplifying approach, software developers are
adopting multi-model databases to quickly adapt to different data
requirements and reduce the need for multiple database systems.
With over 25,000 GitHub stars, SurrealDB is one of the
fastest-growing open-source database projects in the industry.
With SurrealDB, developers can build modern, real-time apps
faster and more affordably. It minimizes the need for backend
infrastructure management and complex API creation while offering
flexibility across data models and cloud platforms.
SurrealDB has emerged as the choice for organizations burdened
by the cost of managing multiple databases. On average, many
organizations manage 3-4 databases, adding cost and complexity and
significantly impacting developer productivity. Developers spend
excessive time on infrastructure management and learning new
programming languages, leaving less time for application
development.
In addition, SurrealDB handles advanced security and access
permissions and includes indexing for AI workflows, machine
learning inference and model processing.
The database is built entirely on Rust, a renowned
general-purpose programming language recognized for its exceptional
performance in critical applications due to its strong emphasis on
safety, speed and concurrency.
"Each industry goes through phases of bundling and unbundling.
The database market has seen an explosion of many different types
of specialized databases in the 2010s, resulting in ever-growing
complexity for developers. The pendulum has now swung back to
rebundling and simplification", said Matt
Turck, Partner at FirstMark. "SurrealDB is rapidly emerging
as the leader in that trend, offering tremendous versatility and
performance to developers, whether they want to build simple
applications or engage in advanced AI work. I'm thrilled to
double down in the Series A after leading the seed round."
"SurrealDB's novel multi-model database simplifies backend
architecture and provides a powerful but user-friendly developer
experience. Through our due diligence, including usage by
Georgian's internal AI Lab, we have observed SurrealDB's ability to
consolidate multiple databases, which can reduce cost and
complexity while also providing simple and intuitive querying. The
pace of development by the SurrealDB team has resulted in one of
the fastest growing open source projects that we have seen and
we're very excited to partner with the company as it launches to an
even broader audience", said Emily
Walsh, Lead investor at Georgian.
"As a developer myself, I passionately believe in creating
software that enables all developers to focus on building the most
innovative applications. With SurrealDB we're not just enhancing
productivity; we're disrupting the database market. The support and
enthusiasm from our community have been instrumental to our growth
and success. We are committed to open-source development, and will
continue to innovate and provide powerful, accessible tools that
empower developers worldwide," said SurrealDB CEO and co-founder
Tobie Morgan Hitchcock. "We are
honored to have FirstMark, Georgian, Crew Capital and Alumni
Ventures support our vision. Their investment and support will help
us scale faster and meet growing demand".
About SurrealDB
SurrealDB is an innovative, multi-model, cloud-ready database,
suitable for modern and traditional applications. Its versatility,
and focus on developer experience, along with the ability for
deployment on cloud, on-premise, embedded, and in edge computing
environments, allows developers and organizations to meet the needs
of their applications, without needing to worry about scalability
or keeping data consistent across multiple different database
platforms.
To learn more and get started with SurrealDB in just one-click
visit surrealdb.com
Olivia Heel
Catapult PR-IR
oheel@catapultpr-ir.com
Photo -
https://mma.prnewswire.com/media/2440814/SurrealDB_Colour_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/surrealdb-raises-20-million-to-disrupt-database-tech-introduces-new-cloud-beta-access-302174963.html