Tinybird isn't so small anymore. First covered by TechCrunch three years ago, the enterprise data startup has grown rapidly and recently raised $30 million in a Series B funding round. One source said the company is now valued at $240 million.
Originally from Madrid but now also based in New York, Tinybird approaches complex data product development with a very simple perspective: essentially helping companies take advantage of the vast amounts of data they have and repurpose that information in their own products in near real time.
Tinybird first ingests data in real time from event streaming platforms such as Kafka, Amazon Kinesis, and Pub/Sub, and can also ingest data from storage locations such as BigQuery, Snowflake, and Amazon S3.
Developers can then filter datasets or join information from multiple sources using SQL queries. Finally, Tinybird creates API endpoints based on the results of those queries, allowing developers to query the data in the product using a standard JSON-based API. Customers use the product for real-time analytics and personalization, sports betting, smart inventory management, and more generally, operations management.
What's particularly interesting about Tinybird is that it doesn't rely on a data pipeline (the so-called ETL (extract-transform-load) or ELT (extract-load-transform) process) to connect your data sources to Tinybird, so there's no need to use a data integration tool like Airbyte, Stitch, or Fivetran.
Tinybird is fast, able to ingest surprisingly large amounts of data in a short amount of time: “We have customers ingesting 500,000 records per second and processing multiple petabytes every day,” co-founder and CEO Jorge Gómez Sancha told TechCrunch.
The product is built on ClickHouse, an open-source columnar database that is particularly responsive when it comes to processing SQL queries.
“To empower engineering teams, data teams need a centralized platform that can operate on both batch and streaming data,” says Gómez Sancha. “They need a reliable, end-to-end, scalable system with fewer technical handoffs, fewer performance compromises, and fewer parts and processes to maintain.”
The company tripled its revenue last year and now works with big-name clients like Vercel, Canva and Fanduel, which is why it raised a Series B round led by Balderton. The company raised $37 million in a Series A round in 2022 and $3 million in a seed round in 2021.
While Tinybird isn't raising a huge amount of funding compared to its Series A round, the company said the new round represents a “significant increase” in valuation. Existing investors CRV, Singular and Crane are also returning.
“This funding will allow us to become more aggressive and accelerate our efforts to strengthen our dominance as a real-time data platform for engineering and data teams – from supporting data sources and standards designed to accommodate ever-growing data volumes, such as Apache Iceberg, to using AI to help developers optimize SQL queries and data schemas to reduce latency and improve performance,” added Gomez-Sancha.
There's no doubt that managing data at scale is here to stay, so building a product that makes this process a little easier seems like a good business proposition.
Ingrid Lunden contributed reporting.
Image credit: Tinybird
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