Neon, Inc., a San Francisco, CA-based open-source, fully-managed, multi-cloud Postgres as a service, raised $30 million in Series A-1 funding.
The round was led by GGV Capital with participation from Khosla Ventures, General Catalyst, Founders Fund, Elad Gil, and angels, including Nat Friedman, Ajeet Singh, Guillermo Rauch, Wes McKinney, Ryan Noon, and Søren Brammer Schmidt.
The company, which has raised $54.3m in total funding, intends to use the funds to build its engineering team, accelerate product expansion and overall growth as well as bootstrap a GTM team.
Company: Neon, Inc.
Raised: $30.0M
Round: Series A-1
Funding Month: July 2022
Lead Investors: GGV Capital
Additional Investors: Khosla Ventures, General Catalyst, Founders Fund, Elad Gil, Nat Friedman, Ajeet Singh, Guillermo Rauch, Wes McKinney, Ryan Noon, and Søren Brammer Schmidt
Company Website: https://neon.tech/
Software Category: Multi-cloud Postgres as a service
About the Company: Co-founded by Postgres hackers Heikki Linnakangas and Stas Kelvich and led by CEO Nikita Shamgunov, Neon is an open-source, multi-cloud, fully-managed Postgres as a service that separates storage from computing to offer autoscaling, one-click start, multi-cloud compatibility, and bottomless storage to give developers a reliable, and powerful experience. Scalable features contain costs, provide elasticity, and easily integrate with Amazon S3. The company will further improve application development with its substantial roadmap, including features such as branching, which will enable developers to instantly branch their production database, saving time and resources.
Source: https://www.finsmes.com/2022/07/neon-raises-30m-in-series-a-1-funding.html