Pingcap completed round D financing of USD 270 million, creating a new milestone in the history of global database

Time:2021-11-26

Pingcap, an enterprise level open source distributed database manufacturer, recently announced the completion of round D financing of US $270 million, 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 Bertelsmann Asia Investment Fund (BAI), coatue, futurex capital, Kunlun capital and Zhixin capital (trustbridge partners) and old shareholders matrix partners China and yunqi partners follow the investment, and UBS serves as the exclusive financial adviser for this round of financing.

Pingcap completed round D financing of USD 270 million, creating a new milestone in the history of global database

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 track.

Founded in 2015, pingcap is an enterprise level open source distributed database manufacturer, providing open source distributed database products, solutions and consulting, technical support, training and certification services. It is committed to providing global industry users with a stable, efficient, safe, reliable, open and compatible new data infrastructure and liberating enterprise productivity, Accelerate the digital transformation and upgrading of enterprises.
The distributed relational database tidb founded by pingcap is built for key businesses of enterprises. It has enterprise level core features such as “distributed strong consistency transactions, online elastic horizontal expansion, high availability of fault self recovery, and multi activity across data centers”, helping enterprises maximize data value and fully release the growth space of enterprises.

Create a new generation of cloud native distributed database

HTAP (hybrid transaction / analytical processing) is a key research direction in database industry in recent years. This architecture breaks the barrier between online trading business and analysis business. While fully supporting key online trading business, it allows business data to be analyzed and processed in real time, greatly improves the efficiency of business decision-making and platform construction, and forms a full link closed loop of business, so as to become 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 capacity. This set of architecture design has successfully solved the contradiction between isolation, consistency and performance that plagued the 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, marking that the architecture has been recognized by the global academic community.

The popularity of cloud native technology has accelerated the digital transformation of enterprises and greatly reduced the cost of going to the cloud. With the help of cloud capabilities, infrastructure becomes more flexible, infinitely scalable, more available, and pay on demand saves costs. Gartner predicts that 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 the characteristics of cloud native. Through seamless connection with kubernetes, tidb can be easily deployed on any public cloud, private cloud and hybrid cloud, greatly reducing users’ total cost of ownership (TCO) and improving resource utilization. In June 2020, pingcap released the tidb cloud product to provide out of the box tidb cloud database hosting service relying on the public cloud. With the help of cloud, tidb cloud can expand horizontally, with almost unlimited storage capacity and computing power, so that users can focus on the rapid growth of their own business.

Help industry digital transformation

In the era of big data, information and data are growing explosively, and almost all enterprise data are rising exponentially. As an important cornerstone in the field of basic software, database is the key engine for the comprehensive digital transformation of enterprises. More than 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, Ping An Life, Ping An Property Insurance, Guotai Junan, Huatai Securities Lujinsuo, immediate consumption, lakala, China Mobile, China Unicom, China Telecom, Xinhua Finance, people’s online, Jilin Xiangyun, Zhongti Juncai, State Grid, ENN gas, Peking University People’s Hospital, Beijing Friendship Hospital, Gree Electric Appliance, ideal car, Xiaopeng automobile, vivo, oppo, McDonald’s, yum China, China Post, SF express, Zhongtong express Tencent, meituan, jd.com, pinduoduo, Xiaomi, Sina Weibo, 58 city, 360, Zhihu, iqiyi, BiliBili, Himalaya, New Oriental, companion fish, xiaohongshu, auto home, Netease games, Gaia mutual entertainment, Youzu network, square (USA), paypay (Japan), Dailymotion (France), shopee (Singapore), zalopay (Vietnam), bookmyshow (India), involving finance, telecommunications, government, energy, public utilities, high-end manufacturing, high technology, new retail, logistics, Internet, games and other industries.

Taking the financial industry as an example, tidb has been successfully launched and operated stably in many leading financial institutions for a long time, supporting 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 and so on, and fully meeting the high standard requirements of the financial industry for database stability, security and performance, Become the key enabling platform for the “steady state + sensitive” two wheel drive development in the digital transformation of financial institutions.

Open source culture to build an international ecosystem

Pingcap has taken open source as its long-term core strategy since its inception, 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 received more than 25000 stars on GitHub and nearly 1200 open source code contributors. 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 positive feedback and closed loop to tidb’s product development. Tidb’s R & D capability, project quality and iteration speed have all reached the world-class level, becoming the core and accelerating 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 the cloud native Foundation (CNCF); Chaos mesh, a chaos engineering test platform founded by pingcap in July 2020 ® Officially become a CNCF managed project; CNCF’s 2019 annual report mentioned that pingcap ranked sixth in the global code contribution ranking of CNCF in 2019. Pingcap has become a world-renowned open source software manufacturer.

Pingcap actively builds a global industrial ecology based on the open source community. Pingcap has established partnerships with industry leaders such as Fosun, Changliang technology, Shenzhou information, Wensi Haihui, Zhongke software, hande information, di Sijie, aikesheng, Zhihu, Banyu, RedHat, databricks, datadog, confluent and so on, covering product R & D, solutions, technical services, upstream and downstream ecology, cloud services and so on. 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 an 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 around 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 and 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 and a key investment field of GGV. Pingcap’s new generation of distributed database has led the global technology development and has been 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, it 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 industry Product company. “

Chen Jie, managing director of UBS Securities and head of technology media and telecommunications group of investment banking department, said: “As the exclusive financial advisor of this transaction, UBS is honored to assist pingcap in completing the round D financing, creating a new history in the field of global basic software. Against the background of challenging market, pingcap’s business model and its open concept of community common prosperity have been recognized by the best quality investment institutions in the world. I wish pingcap a great success in helping global enterprises Continue to play a key role in the process of digital transformation and continue to grow. “

Pingcap previously obtained the angel round financing of Jingwei China leading investment in 2015, yunqi capital leading investment a round financing in 2016, Huachuang capital leading investment B round financing in 2017, and Fosun and Wuyuan capital (formerly Chenxing capital) leading investment C round financing in 2018.