"If we can win data, then we'll be a big company," he added.Ĭockroach Labs has a long way to go, competing against established cloud giants already selling in-house and cloud-based databases to their customers. Yet, in his view, Google still struggled to move the industry onto its database products in a significant way. "Google's done everything right to empower all of their developers and projects," Kimball said. The 300-person startup wants to succeed where Kimball said Google fell short: being the database of record for cloud-based companies. That process is underway, as Kimball said companies were starting to turn away from their longtime Oracle databases and seeking a third party to manage them.Ĭockroach Labs' latest cash will go toward continuing its strategy of targeting developers and building out its database, the company said. "That exposure we get wins mindshare, which then translates to these developers all work somewhere," he said.īut the startup still has to convince companies to take on the technical challenge of switching all of its accumulated data from legacy platforms to CockroachDB, Kimball told Insider. It recently launched a free, serverless version of CockroachDB, and the company said over 10,000 people had signed up. Part of Cockroach Labs' strategy to win over those customers is through its developers, Kimball said. Switching to CockroachDB gave Mythical Games more control over its back-end infrastructure, Downs said, but not every prospective customer immediately understands CockroachDB's appeal and approach. "We were having to put the blockchain system in the game to a halt, and our account login systems to a halt, while these reboots happened," he said. Mythical Games first built its platform on Google cloud's database, but frequent maintenance caused too much disruption, Chris Downs, the site-reliability-engineering director and cofounder at Mythical Games, told Insider. The 6-year-old startup said its annual recurring revenue tripled in the past year.Ĭockroach Labs' growth is fueled by customers like Mythical Games, a $1.25 billion gaming startup based on digital assets called nonfungible tokens. It was led by San Francisco's Greenoaks, with participation from existing investors including Benchmark, Alphabet's GV, Index Ventures, and Tiger Global. The latest round brings Cockroach Labs' total funding to $633 million. It's a cash injection Cockroach Labs could use as it goes up against the biggest tech companies, competing for a piece of what Kimball called a "high-margin business."
ORACLE DATABASE LOGO SERIES
The New York City startup announced on Thursday a $278 million Series F round that brought its valuation to $5 billion - which more than doubled its valuation from when it raised a $160 million round in January. Investors, it seems, are buying into that vision. "Most of the world's databases are still Oracle, so there's a huge opportunity for us." "There's no reason that databases should ever be as static the way that Oracle became," CEO and cofounder Spencer Kimball told Insider last month. The startup has seen success beating out other databases for customers like Mythical Games.Ĭockroach Labs has high hopes for its CockroachDB database built for the cloud: It wants to become as ubiquitous as legacy tech giants like Oracle and IBM.Its CEO plans to beat legacy database competition by appealing to a wide variety of developers.Cockroach Labs just raised $278 million to continue building its cloud-based database, CockroachDB.
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