NEW YORK, Nov. . Sep. 30, 2020 / PRNewswire / – Materialize, the streaming SQL database company, today announced that it has raised $ 40 million in funding to expand its engineering team, prepare the business for growth, and launch to expand. Kleiner Perkins’ Bucky Moore led a $ 32 million Series B round. Lightspeed Venture Partners also took part in Round B after Ravi Mhatre led the Series A investment in 2019. Other investors include executives from Cockroach Labs, Datadog and Rubric.
According to Gartner, by 2022 most large new business systems will use streaming data to improve decision making. Whether it’s delivering personalized experiences, pinpointing fraud, building predictive AI, or discovering new business opportunities, the ability to run complex queries on multiple data streams is critical to making better decisions. Materialize makes it easy for any business to use streaming data while reducing time to value.
« A company’s ability to use real-time data for insights and value will determine which companies will lead their respective industries in the years to come, » said Arjun Narayan, Co-Founder and CEO of Materialize. « When the world is changing fast, you have to interpret the chaos and make the right decisions quickly. Our mission is to make real-time information simple and accessible so that companies can easily see what’s important. «
In an industry where real-time has become a vague marketing claim, Materialize provides companies with millisecond response times, accelerates time-to-value, and enables decision-makers to predict results instantly with confidence. Any developer or analyst using Materialize can easily understand streaming data, answer complex questions, and build intelligent applications using standard technology.
Materialize is the first standard SQL data streaming interface available to engineers who want to create complex queries and multi-way joins without specialist knowledge or microservices. Unlike other streaming data platforms that claim to be real-time, Materialize computes and incrementally manages data as it is generated, so query results are instantly available when they are needed. This approach provides companies with correct answers in milliseconds – without being disturbed by late data.
« Every business will be a real-time business for the next several years, but current approaches require tradeoffs between cost, speed, and skill to get there, » said Bucky Moore, partner at Kleiner Perkins. « The Materialize team has been researching this problem for a decade and has developed a unique approach that enables it to harness the tremendous potential of data streaming without having to compromise on engineering teams. «
The Materialize team was founded in New York City in 2019 and consists of engineers who were early on at Cockroach Labs, Datadog, Dropbox, Pure Storage and YouTube. Frank McSherry, Co-Founder and Chief Scientist of Materialize, was previously at Microsoft Research Silicon Valley where he co-invented Differential Privacy and led the Naiad Project. Frank created Timely Dataflow and Differential Dataflow, which serve as the basis for Materialize. He has received numerous awards for advanced distributed computing and data protection. The company has early customers who use its products for real-time data visualization, financial modeling and the advancement of various SaaS applications in the fields of martech, logistics and corporate resource planning.
About MaterializeMaterialize is the streaming SQL database company that enables any developer or analyst to easily understand streaming data, answer complex questions, and build intelligent applications using standard technology. The Materialize team, based in New York City, consists of engineers who were employed early on at Cockroach Labs, Datadog, Dropbox, Pure Storage and YouTube. For more information, please visit materialize. com.
EbeneMagazine – CA – Materialize is raising $ 40 million to simplify streaming data with SQL and accelerate real-time analytics
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– Materialize Raises $ 40 Million Investment in SQL Streaming Database
– Materialize Raises $ 40 Million to Simplify Streaming Data Using SQL and Accelerate Real-Time Analytics