Materialize Raises a Series B
Today we announced that we raised a $32M Series B round of funding led by Kleiner Perkins. This follows a $8.5m Series A last year led by Lightspeed Venture Partners, bringing our total funding to-date to a little over $40 million. With our Series B, Bucky Moore joins Ravi Mhatre on our board of directors.
At Materialize, we believe that at every business it will soon be essential for all information to be always up-to-date. Whether it’s delivering personalized experiences, accurately identifying fraud, building predictive AI, or discovering new business opportunities, the ability to run complex queries on multiple streams of data and keep their answers up to date is critical to making better decisions about the changing world around us.
While the past decade has seen a groundswell in the adoption of streaming platforms, they are still too difficult to use. Current systems require users to make tradeoffs between dumbing down their queries, waiting for hours-long batch ETL pipelines to finish, or building and orchestrating sprawling microservices. We believe users should not have to make these tradeoffs.
Materialize’s mission is to make queries against streaming data simple. We support industry standard SQL: write queries with multi-way joins, correlated subqueries, and complex aggregations, and we’ll keep the answers always up to date for you. In a world where “real-time” has become an empty buzzword, Materialize provides answers that are up to date within milliseconds. All of this comes in a single binary that is easy to install, easy to use, and easy to deploy. With Materialize, users can get interactive and always-up-to-date answers about their changing data using only their existing SQL skills.
While Materialize is a young company, it is built on top of the award winning Timely Dataflow project, spanning almost a decade of cutting-edge research on stream processing led by my co-founder Frank McSherry. Starting from this solid foundation, $40 million dollars of capital gives us the resources to build the no-compromise streaming database that lets every developer build streaming applications.
With this new round of funding, we are well equipped to deliver on an ambitious roadmap, including a fully-managed cloud service with tiered storage and replication. We’re also excited to continue work on broadening the suite of SQL tools that we support, as well as investing in a SQL optimizer, performance and benchmarking work, and in making Materialize more resilient and battle-tested. If you’re interested in working on any of these challenges, Materialize is hiring across the board.
And finally, while it is exciting to build Materialize, it has been even more exciting to see how Materialize is being used to build applications that previously would have required months of development, using just a few simple SQL queries. If you’re as excited about Materialize as we are, we’d love for you to get involved. Register for a Materialize account here to get started, join the community and say hello, or apply to join our growing team today!