Pingcap, an enterprise level open source distributed database manufacturer, announced recently that it has completed the D round financing of 270 million US dollars, creating a new milestone in the history of global databases.This round of financing is jointly led by GGV capital, access technology ventures, Anatole investment, jeneration capital and 5Y capital (formerly Chenxing capital), and is jointly invested by Bai, coat, futurex capital, Kunlun capital and Trustbridge partners, matrix partners China and yunqi partners are the investors. UBS is the exclusive financial consultant of this round of financing.
This round of financing will be used for the research and development of key core technologies of distributed database, focus on the continuous improvement of solutions and professional service support system, continue to increase the construction of open source community ecosystem, further promote the coverage of cloud database services in the global market, and continue to lead the global new generation of distributed database.
Pingcap, founded in 2015, is an enterprise level open source distributed database manufacturer, providing open source distributed database products, solutions and consulting, technical support and training certification services. It is committed to providing stable, efficient, safe, reliable, open and compatible new data infrastructure for global industry users, and liberating enterprise productivity, Accelerate the digital transformation and upgrading of enterprises.
Tidb, a distributed relational database created by pingcap, is built for the key business of enterprises. It has the core characteristics of “distributed strong consistency transactions, online elastic horizontal expansion, high availability of fault self recovery, and multiple activities across data centers”, helping enterprises maximize the value of data and fully release the growth space of enterprises.
Building a new generation of cloud native distributed database
HTAP (hybrid transaction / analytical processing) is the focus of database research in recent years. This architecture breaks the barriers between online transaction business and analysis business. While fully supporting key online transaction business, it enables business data to be analyzed and processed in real time. It greatly improves the efficiency of business decision-making and platform construction, and forms a full link closed-loop business, thus becoming one of the core competitiveness of enterprises in the future.
In May 2020, tidb launched version 4.0. As an important milestone on the road of tidb’s “new generation cloud native distributed database”, tidb 4.0 innovatively introduced the HTAP architecture solution based on raft algorithm on the premise of providing good transaction processing capability. This set of architecture design has successfully solved the contradiction between isolation, consistency and performance that plagued HTAP architecture in the past. The paper “tidb: a raft based HTAP database” based on this has been included in the international top database conference VLDB 2020, which indicates that the architecture has been recognized by the global academic community.
The popularity of cloud native technology accelerates the digital transformation of enterprises, greatly reducing the cost of cloud. With the ability of cloud, infrastructure becomes more flexible, unlimited expansion, more available, and pay on demand is more cost-effective. According to Gartner, 75% of databases will be deployed or migrated to the cloud by 2022.
As an open source distributed database, tidb’s elastic and scalable architecture naturally has cloud native characteristics. Through seamless docking with kubernetes, tidb can be easily deployed on any public cloud, private cloud and hybrid cloud, greatly reducing the total cost of ownership (TCO) of users and improving resource utilization. In June 2020, pingcap released tidb cloud products, relying on the public cloud to provide out of the box tidb cloud database hosting services. With the help of cloud, tidb cloud can expand horizontally, with almost unlimited storage capacity and computing power, enabling users to focus on the rapid growth of their own business.
Help industry digital transformation
In the era of big data, the explosive growth of information data, almost all of the enterprise data show exponential growth. As an important cornerstone of the basic software field, database is the key engine of enterprise comprehensive digital transformation. Over the past five years since pingcap was founded, tidb, as a general distributed database, has been used in online production environment by more than 1500 enterprises around the world, including Bank of China, Everbright Bank, Shanghai Pudong Development Bank, Zheshang Bank, Bank of Beijing, Weizhong bank, Yilian bank, Baixin bank, China UnionPay, China Life Insurance, Ping An Life Insurance, Ping An Property Insurance, Guotai Junan, Huatai Securities Lu Jinsuo, instant consumption, lakara, China Mobile, China Unicom, China Telecom, Xinhua Finance and economics, people’s online, Jilin Xiangyun, Zhongti Juncai, State Grid, Xin’ao gas, Peking University People’s Hospital, Beijing Friendship Hospital, Gree Electric Appliance, ideal automobile, Xiaopeng automobile, vivo, oppo, McDonald’s, yum China, China Post, SF express, Zhongtong express Tencent, meituan, Jingdong, pinduoduo, Xiaomi, Sina Weibo, 58 Tongcheng, 360, Zhihu, iqiyi, bilibilibili, Himalayas, New Oriental, companion fish, xiaohongshu, auto home, Netease games, Gaia mutual entertainment, youzu.com, square (USA), paypay (Japan), Dailymotion (France), shopee (Singapore), zalopay (Vietnam), ” Bookmyshow (India), involving finance, telecommunications, government, energy, public utilities, high-end manufacturing, high-tech, new retail, logistics, Internet, games and other industries.
Taking the financial industry as an example, tidb has been successfully launched in a number of head financial institutions and has been running stably for a long time. It has supported many key business systems, including core general ledger transactions, payment and settlement, online loans, retail finance, risk control and anti fraud, Internet finance, management cockpit, etc., and fully met the high standard requirements of the financial industry for database stability, security and performance, It has become the key enabling platform of “steady + sensitive” two wheel drive development in the digital transformation of financial institutions.
Open source culture to build an international ecosystem
Pingcap has been taking open source as its long-term core strategy since its establishment, and firmly believes that open source is the best way for basic software to succeed in the world.As of October 2020, tidb project has won more than 25000 stars on GitHub and nearly 1200 open source contributors. The participating enterprises include meituan, Zhihu, Banyu, Fengchao, Xiaomi, Weizhong bank, ucloud, zoom, Samsung, square, paypay and other industry leaders. Tidb has become a well-known open source project in the field of global basic software. The highly active open source community has brought a positive feedback closed loop for the development of tidb products. Tidb’s R & D capability, engineering quality and iteration speed have been at the world-class level, becoming the most core, accelerated competitiveness and moat of pingcap.
Pingcap always adheres to the spirit of open source, actively gives back to the open source community, and strives to become the leader of global technical standards. In September 2020, tikv, a distributed storage engine founded by pingcap, officially graduated from CNCF; In July 2020, chaos mesh, a chaos engineering test platform founded by pingcap, will be launched ® Officially become a CNCF trusteeship project; According to the annual report of CNCF in 2019, pingcap ranked sixth in the global code contribution list of CNCF in 2019. Pingcap has become a well-known open source software manufacturer in the world.
Pingcap, relying on the open source community, actively creates the global industrial ecology. Pingcap has established cooperative partnership with Fosun, Changliang technology, Shenzhou information, wensihaihui, zhongkeruan, hande information, diesijie, aikesheng, Zhihu, pangyu, RedHat, databricks, datadog, confluent and other industry leaders, covering product development, solutions, technical services, upstream and downstream ecology, cloud services and other fields. Extensive and efficient ecological collaboration enables tidb to continuously innovate with partners and create more business value for users.
Liu Qi, founder and CEO of pingcap, said: “I believe that only open community ecology and the most challenging business scenarios can produce better products. In the past five years, pingcap’s products have been polished by different business scenarios from many industries all over the world, and have been recognized by users all over the world. In the future, pingcap will continue to consolidate products, improve ecological cooperation, help enterprises and developers simplify development, accelerate iteration, focus on innovation and creation, and contribute to the digital transformation of global enterprises“
Fu Jixun, managing partner of GGV Jiyuan capital, said: “open source basic software is a huge market, which is also a key investment area of GGV. Pingcap’s new generation of distributed database leads the global technology development and is recognized by the world’s top large enterprise customers. We believe that under the leadership of the founding team, pingcap can develop into a world-class technology company. “
Liu Qin, founding partner of Wuyuan capital, said: “in this round of financing, pingcap has attracted the support of the world’s top investors. In terms of investment scale and investor lineup, pingcap is a new benchmark and milestone in the field of database and global open source. During the epidemic period, the company accelerated the expansion of global business and the landing of international team, and evolved from a technology geek company to a global technology product company. “
Chen Jie, managing director of UBS Securities and head of technology media and Telecom Group of investment banking department, said: “as the exclusive financial consultant of this transaction, UBS is very honored to assist pingcap in completing the round D financing, creating a new history in the global basic software field. Against the background of challenging market, pingcap’s business model and its open concept of community co prosperity have been recognized by the best quality investment institutions in the world. I wish that pingcap will continue to play a key role in the digital transformation of global enterprises, and continue to develop and grow. “
Pingcap previously obtained Angel round financing from Jingwei China leading investment in 2015, a round financing from yunqi capital leading investment in 2016, B round financing from Huachuang capital leading investment in 2017, and C round financing from Fosun and Wuyuan capital (formerly Chenxing capital) leading investment in 2018.