TigerGraph Raises $32M to Extend Graph Database Use to Businesses
TigerGraph, one of the companies advancing the use of graph databases for faster analysis of the connections among people and things, announced today it raised $32 million in Series B funding round led by private equity investor SIG. The new capital brings TigerGraph’s fundraising total to $65 million.
Redwood City, CA-based TigerGraph says it’s now offering its cloud-based technology, TigerGraphCloud, as a subscription service for businesses. Customers won’t need to be computer scientists to use the system to mine data networks for purposes such as fraud detection and supply chain analysis, TigerGraph says.
Graph databases store information differently than conventional relational databases, which structure data points in columns and rows. Graph databases were developed to grapple with networks of connected entities, such as communities on social media, where each member may have many links to other people or objects. Google’s Knowledge Graph is such a graph database.
TigerGraph, which was founded in 2012 and emerged from stealth mode in 2017, plans to use its new money to bolster its global expansion, including the TigerGraphCloud service. The company gives interested users a chance to try out the system by paying only for the search time they use. But they can later scale up the volume of data they subject to “deep link analysis.’’ TigerGraph has also opened up a free tier of TigerGraphCloud to allow students, business analysts, and data scientists to sample the service without charge.
TigerGraph says its paying customers include pharmaceutical companies such as Amgen, and tech firms such as Intuit and Zillow. Competitors of TigerGraph that are likewise targeting business customers looking to make use of graph databases include San Mateo, CA-based Neo4j, which has raised a total of $160.1 million from outside investors, according to Crunchbase.
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