ClickHouse has raised $250 million in its Series B funding round as per reports. The company is known for developing the OLAP (online analytical processing) system for database management. It is now valued at $2 billion, with its latest round being spearheaded by Altimeter and Coatue. Other participants included Benchmark, Index Ventures, Lightspeed, FirstMark, Redpoint, Yandex N.V., Almaz, and Lead Edge. General Partner, Coatue, Caryn Marooney, stated that the cutting-edge technology and speed of the company, along with its fast acceptance throughout several leading industries, are indicators of its fast progress. Marooney also stated that they were closely tracking this project for several years, and are thrilled to team up with them, as they continue their pursuit of future growth, and industry leadership.
ClickHouse offers an OLAP system for database management that makes use of SQL for analytics in real-time. The performance of this platform surpasses many rival systems for database management (column-based) which are there in the mainstream market. It can process millions or even billions of individual rows at a time, along with innumerable data gigabytes in every second and for each server. This technology was created over ten years ago at the top internet corporation in Europe, Yandex. It was used for supporting its sizable platform for web analytics. The CEO at Yandex Group, Arkady Volozh, stated that it is a great moment for the team at ClickHouse, with their novel technologies and pursuit of making open-source options available in the technology space. Volozh also added that the company is already scaling up to a newer dimension by starting to develop new product ecosystems around its platform for global businesses.
ClickHouse launched for the mainstream market in 2016, and was quickly adopted by leading entities including Comcast, Uber, Cisco, and eBay. More than 800 contributors on the platform have already made pull requests surpassing 20,000. According to the Head of Engineering, Cloudflare, Usman Muzaffar, the aim of the company is the development of superior internet. Hence, it is always looking for technologies that have the right scalability. Muzaffar also stated that ClickHouse helps Cloudflare through its reliable and swift method of log analysis across innumerable requests, identifying traffic of a malicious nature, and offering the best analytics for customers. He talked of how Cloudflare has always been a supporter of the company, while recognizing how it has helped in scaling up processing of logs into one of the biggest such networks across the globe.
ClickHouse confirmed its Series A funding round of $50 million in August, 2021. Index Ventures led the round with other participants like Benchmark, Yandex N.V., and many others. ClickHouse already has a fast-growing user community and it will now use its funds for scaling up the development of commercial and global cloud-based solutions which are immensely secure and convenient for users. It will be doubling its company size this year with the funds as well.