Fauna Raises $25M in Series A Funding, Led by Point72 Ventures
Investment will accelerate product development and scale sales
SAN FRANCISCO, Sept. 14, 2017 /PRNewswire/ -- Fauna, Inc., the company behind FaunaDB, an adaptive operational database, today announced the close of $25M in Series A funding. The round was led by Daniel Gwak at Point72 Ventures, with participation from GV (formerly Google Ventures), Costanoa Ventures, Afore Capital, and others. Existing investors also participated in the round, including CRV, Data Collective, Quest Venture Partners, the Webb Investment Network, and Ulu Ventures.
Created in 2012 by software engineers from Twitter, FaunaDB is a transactional, globally distributed database that lets digital businesses meet the requirements of modern cloud applications without sacrificing correctness, availability, security, or speed.
"FaunaDB advances the state of the art in operational database management systems while remaining firmly grounded in proven industrial and academic research," said Evan Weaver, Fauna's co-founder and CEO. "We are excited to work with Point72. This investment gives our customers confidence that Fauna is building a product and company to last."
"With its impressive and diverse team from Twitter, Couchbase, Oracle, Amazon, and Google, Fauna is uniquely positioned to revolutionize data infrastructure," said Neill Occhiogrosso, Partner at Costanoa Ventures. "Fauna's customers are already proving that the market needs a better database—one that can meet the toughest enterprise requirements and is built for the modern, multi-cloud world."
"When we designed FaunaDB, we knew the combination of strong consistency and global availability would be critical for industries like financial services and ecommerce," said Matt Freels, Fauna's co-founder and CTO. "We're excited to see its rapid adoption by enterprises in other verticals as well, including IoT, gaming, and social media."
"Traditional data infrastructure can't serve the modern-day needs of global enterprises, especially companies in regulated industries," said Anamitra Banerji, Managing Director at Afore Capital. "At Twitter, the Fauna team faced those problems from the outset, and had to invent a new data infrastructure from the ground up. Now, they're making that technology available to help any enterprise. We're psyched to be investing in support of that mission."
FaunaDB is available as a service as FaunaDB Serverless Cloud, and on-premises as FaunaDB Enterprise. For more information, please visit www.fauna.com.
About Fauna
Fauna is the company behind FaunaDB, a transactional, globally distributed database. Built by the team that scaled Twitter, FaunaDB is the only enterprise-class database designed around modern development practices instead of legacy SQL. FaunaDB is offered as a serverless cloud product spanning AWS, GCP, and soon Azure, as well as an on-premises/hybrid-cloud package for the enterprise. For more information, please visit www.fauna.com.
SOURCE Fauna, Inc.
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