Cockroach Labs builds CockroachDB, a distributed SQL database with self-hosted and hosted (cloud/SaaS) offerings. The company also launched a serverless product in October in beta and plans to expand its product family. Its cloud business grew 500% over the last year and ARR tripled year-over-year from Q3 to Q3; the company reports 200 paying customers. While the majority of revenue still comes from the self-hosted version, management expects the hosted offering to grow faster over time. Cockroach partners with Amazon and Google on cloud installs and plans to support Microsoft Azure in 2022. Leadership has hired a CFO, views the company as positioned for a potential IPO, and says the new funding provides roughly 3–4 years of runway. Cockroach Labs builds CockroachDB, a cloud-native distributed SQL transactional database offering multi-cloud flexibility and data-locking for regulatory compliance. The product is used by organizations large and small across communications, gaming and entertainment, e-commerce and financial services. Customers named in the article include Equifax, Bose and Comcast. The company intends to use the new funding to expand operations, broaden its business reach and further develop the product. Cockroach Labs is NYC-based. As of this round the company has raised $355M in total funding and is valued at $2 billion. Cockroach Labs builds an open-source, scalable database with on-prem and cloud offerings, and launched its managed cloud service in 2018. The company uses its open-source product to attract users and convert a portion into paying customers. CEO and co-founder Spenser Kimball says the company has grown nearly 300% by number of customers. Cockroach competes with both traditional databases like Oracle and cloud providers such as Amazon. Financially the company has been raising substantial capital to support growth and weather economic uncertainty, most recently adding a large Series D. The team intends to continue hiring while being cautious and open to remote work adjustments. Cockroach Labs develops CockroachDB, a cloud-native distributed database engineered for resilience across nodes, data centers, and globally to provide local-like performance. The company offers a hosted cloud product on AWS while directly competing with AWS database services and traditional vendors such as Oracle. Cockroach changed its open-source licensing model, similar to MongoDB, to protect its commercial position against larger players. Management says Q1 revenue this year doubled all of last year, and indicated Q2 could double Q1, demonstrating rapid revenue growth. The company intends to accelerate sales momentum and continue product development to sustain that growth. Competing with much deeper-pocketed rivals, Cockroach emphasizes its global distribution capabilities as a key differentiator. Cockroach Labs develops CockroachDB, an open-source database service designed to replicate itself and maintain multi-active availability to minimize downtime. The product emphasizes resilient distributed replication so services remain available under failure scenarios. The company officially launched CockroachDB version 1.0 after a beta during which many (largely startup) customers adopted the service early. Cockroach is monetizing via a paid enterprise tier that adds distributed backup and restore functionality and enterprise support for serious users. Early customers include Baidu, which has tested the service processing two billion inserts a day while simulating extreme failure scenarios. The team plans a 1.1 release in five months, moving thereafter to a six-month release cadence, and is developing geo-partitioning for column-level geographic replication to reduce latency and aid data sovereignty.

Total raised

$633M

Funding rounds

7

Latest round

Series F

Latest activity

Dec 2021