Amidst rapid ARR growth, Tembo will use funds to capture massive database market opportunity

July 03, 2024 03:00 AM Pacific Daylight Time

CINCINNATI–(BUSINESS WIRE)–Tembo, a Postgres managed service, today announced the successful closure of a $14M Series A funding round. GreatPoint Ventures led the investment with participation from Venrock, Grand Ventures, Wireframe Ventures, Defined Capital, and Cintrifuse Capital, along with prominent angels.

On average, enterprises leverage seven different database vendors simultaneously, which is costly and inefficient. This funding round marks a step forward in Tembo’s mission to collapse the sprawl of the modern data stack by leveraging Postgres, the world’s most advanced open-source relational database. Tembo empowers developers to use Postgres for all of their growing data capture and storing needs, something every organization is rethinking with the explosion of AI and its data demands.

“Postgres isn’t just a database; it’s a powerful platform capable of anything from simple applications to complex data ecosystems. With the right foundation, the possibilities are limitless,” said Tembo Founder and CEO Ry Walker. “Tembo provides that foundation while making open source safe for enterprises. This new funding is instrumental in our efforts to provide the full power of Postgres as a service for developers and enterprises to succeed.”

In the past six months, Tembo has grown rapidly, adding key executives from Fortune 500 companies and innovators in the data industry. This includes CTO Samay Sharma, who leads Product Strategy, David Wheeler, creator of pgxn who will head up the effort to merge Trunk and pgxn as well as Tembo’s involvement in the new pgEF foundation, Jason Peterson, who is joining Tembo as a Senior Engineer on the Stacks team, and Shaun Thomas, who will join Tembo as a Senior Engineer on the Cloud team. The additions to the team further Tembo’s ability to provide a single unified platform that comes with unprecedented Postgres expertise and support across a wide range of use cases.

“In the same way that Oracle transformed databases and the cloud, Tembo is poised to change our understanding of what Postgres can do,” said former President of Oracle and GreatPoint Ventures Managing Partner Ray Lane. “Whatever we can do to simplify the life of a developer is meaningful. Tembo will enable less complex data pipelines powered by Postgres.”

This funding follows a strong first half of the year for Tembo, which saw a sharp rise in ARR that is still steadily climbing. With these new funds, Tembo will focus on continuing to grow its ARR through strategic hires, advertising, product development, and cultivating a strong presence in the developer community.

About Tembo

Tembo provides a Postgres managed service that enables organizations to harness the full power of the popular open-source database Postgres for transactional, analytical and AI workloads across any cloud, anywhere. The company enables organizations, from Fortune 500 to startups, to feel confident going “all in” on Postgres, achieving unprecedented stability and efficiency across various applications and use cases. With Tembo, customers get the open-source reliability and extensibility of Postgres with enhanced observability, compliance, and developer experience. For more information, visit www.tembo.io.

Contacts

Andrew Stevens
tembo@thehatchagency.com

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