Cockroach Labs raises Series C funding
Gunderson Dettmer client Cockroach Labs, a provider of an open source database for building durable cloud services, has announced its $55 million Series C financing. The round was led by Altimeter Capital, Tiger Global and GV with existing investors Benchmark, Index Ventures, Redpoint Ventures, FirstMark Capital and Work-Bench participating.
In the announcement of the funding co-founder and CEO Spencer Kimball said, “As organizations transition to the cloud, they eventually find that legacy relational databases are difficult to scale, inflexible to deploy, and fail to take full advantage of modern cloud capabilities. This funding will accelerate our growth within and well beyond the database space, paving the way for CockroachDB to become the preferred platform for global enterprises.”
The Gunderson Dettmer deal team was led by Adam Reuben and included Lisa Gorrin, David Sharrow, Wenli Cai and Valerie Wood.