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Timescale Releases TimescaleDB 1.2

January 31, 2019

Timescale has raised $15 million in a Series A1 financing led by Icon Ventures with participation from existing investors Benchmark, NEA, and Two Sigma Ventures. Combined with its earlier rounds of financing, Timescale has raised over $31 million to help organizations utilize the power of time-series data to analyze the past, monitor the present, and predict the future.

Along with the new financing, Timescale announces a new release of its database that marks a major milestone in its journey to a self-sustaining open-source business. Since its inception, TimescaleDB has been an open-source software project (Apache 2.0). Today, with the release of TimescaleDB 1.2, that open-source core is now complemented with community features (Timescale License) and enterprise features (Commercial License). All of that code base has been made source-available in the TimescaleDB GitHub repository and is packaged in a single binary file.

Ajay Kulkarni, Co-Founder & CEO, Timescale said, “This additional funding will help us continue to build a world class team who is dedicated to supporting our users and creating the best possible foundational technology for time-series data. By combining the ubiquity of SQL, the reliability of PostgreSQL, and the performance needed for time-series workloads, TimescaleDB is uniquely positioned to become a critical part of organizations’ infrastructure worldwide.”

Michael Mullany, General Partner, Icon Ventures added, "Driven by the needs of modern web and IoT-scale time data, time-series databases are in the process of blossoming from a niche technology to a mainstream product category, equal in importance to transactional and analytic databases. But before TimescaleDB, time-series databases were making unfortunate trade-offs that damaged their utility as a general purpose application platform. The enthusiasm we've seen for Timescale among its open source community, as well as its rapid adoption rate, make us extremely excited to back both the technology and this incredibly talented team."

New TimescaleDB features include:

• Advanced time-series analytical functions: gap filling, LOCF, interpolation

• Data reordering for faster queries

• Self-tuning data chunk sizing for optimized performance

• Automated data lifecycle management (enterprise feature)

In addition, Timescale offers the following enterprise services:

• Schema design and query optimization

• Production deployment assistance

• Enterprise-level SLAs

• Warrants and indemnifications

Over the past 24 months, DB-Engines reports that time-series databases are the fastest growing category of databases in terms of popularity. Organizations look to time-series databases for two main reasons: scale and usability. Normal databases are not designed to scale for time-series workloads which accumulate data very quickly. Additionally, time-series databases include specific functions and operations for time-series analysis which provide a better user experience.

TimescaleDB has over 1 million downloads and is deployed in production at Comcast, Cray, LAIKA, LaunchDarkly, Nutanix, Sailthru, SoFi, TransferWise and more. TimescaleDB is fully compatible with the PostgreSQL ecosystem which includes Tableau, Apache Kafka, Apache Spark, Grafana, Prometheus, Zabbix, Hasura, and other support.

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