SAN FRANCISCO – (COMMERCIAL THREAD) – ClickHouse, Inc., creator of the online analytical processing database (OLAP) management system, today announced that it has raised $ 250 million in Series B funding for a valuation of $ 2 billion . The investment was led by Coatue and Altimeter, with participation from Index Ventures, Benchmark, Lightspeed, Redpoint, Almaz, Yandex NV, FirstMark and Lead Edge. The superior speed of ClickHouse technology, combined with its rapid adoption by industry leaders, signals the growth of a unique company in ten years. “We’ve been following the ClickHouse project for years,” said Caryn Marooney, sponsor at Coatue. “We are delighted to join forces with this team as they continue to grow and achieve their goal of being an industry leader in this large and growing market. ”
ClickHouse is an open source, high performance, columnar OLAP database management system for real-time analysis using SQL. Its performance exceeds comparable column-oriented database management systems available on the market, processing hundreds of millions to over one billion rows and tens of gigabytes of data per server per second. The technology was first developed ten years ago at Yandex, Europe’s leading internet service company, to power its large web analytics platform. “I am thrilled for our ClickHouse team. They created a truly unique technology and made it available as an open source solution, which has proven to be in great demand by the tech world, ”said Arkady Volozh, CEO of Yandex Group. “Now ClickHouse Inc. is taking things to a new level as it begins to build a complete ecosystem of products around ClickHouse for businesses around the world. In 2016, ClickHouse was released as an open source solution and has grown exponentially, with the adoption of reputable companies such as Uber, Comcast, eBay and Cisco. Since 2016, there have been approximately 20,000 draw requests made by over 800 contributors. “Cloudflare’s mission is to help build a better Internet. With such an important mission, we make sure to align ourselves with technologies that can evolve with us, ”said Usman Muzaffar, Engineering Manager at Cloudflare. “ClickHouse helps us efficiently and reliably analyze logs of trillions of Internet queries to identify malicious traffic and provide customers with rich analytics. We have long been a supporter of ClickHouse and appreciate how it has enabled us to advance newspaper processing as we have built one of the largest networks in the world.
In August 2021, building on its momentum, ClickHouse incorporated and announced that it had raised a $ 50 million Series A led by Index Ventures and Benchmark with participation from Yandex NV and others. “From the first day we discovered the power of ClickHouse, we knew this business would be something very special. We are delighted that large investors like Coatue and Altimeter have confirmed our early convictions, and we look forward to the way forward, ”said Mike Volpi, Partner at Index Ventures.
ClickHouse has a vibrant and rapidly growing community that has contributed to its continued success. As evidenced by the recent surpassing of 20,000 GitHub stars, ClickHouse has quickly established itself as one of the fastest growing open source database projects in the world. By raising $ 250 million in Series B funding, ClickHouse will double the development of open source functionality and accelerate the creation of a world-class, commercial-grade cloud solution that is secure, compliant and convenient for any customer to use. With this funding, ClickHouse plans to invest heavily in global growth and will double the size of the company this year, and again next year. “Businesses large and small are embracing ClickHouse because it dramatically improves the efficiency of data processing. Our mission is to make ClickHouse the premier choice for analytical database management systems, and with this recent investment, we have the resources to achieve this ambitious goal, ”said Aaron Katz, CEO of ClickHouse.
“We see a huge opportunity for ClickHouse to advance the world of data infrastructure and analytics,” said Kevin Wang, partner at Altimeter Capital. “ClickHouse is radically transforming the way businesses handle large-scale data analytics, and this growth capital will fuel the vision to bring it to the global marketplace. We are excited to partner with Alexey, Yury, Aaron and the world-class ClickHouse team to create an iconic and market-leading company.
ClickHouse is an open source, column-oriented OLAP database management system that allows users to generate analytical reports using real-time SQL queries. Its technology operates 100 to 1000 times faster than traditional database management systems, and processes hundreds of millions to over a billion lines and tens of gigabytes of data per server per second. With a widespread user base around the world, the technology has received praise for its reliability, ease of use, and fault tolerance. Learn more at clickhouse.com