PlanetScale Raises $80M in Series C
PlanetScale has successfully raised $80M in a Series C at a $1B valuation led by Insight Partners, Andreessen Horowitz, SignalFire, Kleiner Perkins.
Company Overview
PlanetScale is a Database company headquartered in 548 Market Street, San Francisco, CA 94104, founded in 2018 with 100+ employees.
MySQL-compatible serverless database
Fundraising Details
- Amount Raised: $80M
- Round Type: Series C
- Valuation: $1B
- Date: 2024-04-27
- Investors: Insight Partners, Andreessen Horowitz, SignalFire, Kleiner Perkins
About PlanetScale
MySQL-compatible serverless database The company is positioned in the Database sector, serving a growing market with innovative solutions.
Key Information
- Headquarters: 548 Market Street, San Francisco, CA 94104
- Founded: 2018
- Team Size: 100+
- Industry: Database
What This Means
This funding round demonstrates strong investor confidence in PlanetScale's vision and execution. The capital will likely be used to:
- Scale Operations: Expand the team and operational capacity
- Product Development: Enhance existing products and develop new features
- Market Expansion: Enter new markets and strengthen presence in existing ones
- Technology Investment: Invest in infrastructure and technology capabilities
Industry Context
The Database sector continues to attract significant investment as companies innovate to meet evolving market demands. PlanetScale's successful fundraising reflects the strong fundamentals and growth potential in this space.
Valuation Milestone
Reaching a $1B valuation marks an important milestone for PlanetScale, positioning the company among notable players in the Database industry.
Looking Ahead
With this new capital, PlanetScale is well-positioned to execute on its growth strategy and continue building innovative solutions in the Database space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.
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This fundraising news was reported on 2024-04-27. For more information about PlanetScale, visit their headquarters at 548 Market Street, San Francisco, CA 94104.
