The developers of the OLAP database management system, ClickHouse, Inc., said today that they have raised $250 million in Series B funding at a $2 billion value. Coatue and Altimeter spearheaded the investment, and Index Ventures, Benchmark, Lightspeed, Redpoint, Almaz, Yandex N.VFirstMark, and Lead Edge also contributed.
The quick uptake of ClickHouse’s technology by market leaders and its superior speed indicates the emergence of a once-in-a-decade company. Caryn Marooney, General Partner of Coatue, stated, “We have been following the ClickHouse initiative for years. “We are thrilled to work with this team as they expand and realize their vision of becoming an industry leader in this big and expanding sector.
About Clickhouse
Clickhouse is a powerful analytics database that enables investors to make informed decisions. It provides them with the ability to analyze huge volumes of data quickly and easily. Clickhouse is used by some of the world’s largest organizations, including Yandex, CERN, and the Russian Government.
The developers of ClickHouse, a database management system for online analytical processing, have obtained $50 million in finance and broken away from Yandex to form ClickHouse Inc.
Yandex, a company based in Russia, and other investors joined the Series A fundraising headed by Index Ventures and Benchmark.
The active and expanding community at ClickHouse has been crucial to the company’s continued growth. One of the world’s fastest-growing open-source database projects, ClickHouse has now surpassed 20,000 GitHub stars, as illustrated by this. With the $250 million in Series B funding, ClickHouse will expedite the development of a top-tier, commercial cloud solution that is safe, legal, and convenient for any client to utilize while doubling down on open-source feature development.
The technology behind ClickHouse was initially created more than ten years ago by Yandex, the top internet service provider in Europe, to enable Yandex, its web analytics platform.
Metrica. In 2016, ClickHouse was released as an open-source solution, and since then, businesses including Uber, Comcast, eBay, and Cisco have all adopted it.
In contrast to earlier specialised data structures, ClickHouse was more broadly applicable to serve as a database management system. With the power and versatility that ClickHouse provided, systems could generate reports from petabytes of raw data with sub-second latency. Yandex used ClickHouse broadly, using it for their Yandex. Tank load testing tool and Yandex.Market to track site usability and KPIs.
The adoption of ClickHouse by market-leading businesses like Uber, Comcast, eBay, and Cisco shows how popular it has become since it became open source in 2016. The LHCb experiment at CERN also uses ClickHouse to store and interpret metadata on 10 billion events with more than 1000 properties each.
With this finance, ClickHouse intends to significantly invest in global expansion and will more than quadruple its size this year and the following. “ClickHouse is being used by both large and small businesses since it significantly increases the efficiency of data processing. With this latest investment, we now have the means to fulfill our mission of being the analytical database management solution of choice, according to ClickHouse CEO Aaron Katz.
Conclusion
Kevin Wang, partner at Altimeter Capital, stated, “We see a big opportunity for ClickHouse to advance the field of data infrastructure and analytics. “ClickHouse is fundamentally altering how businesses manage large-scale data analytics, and this expansion funding will fuel the vision to bring this to the worldwide market. We are thrilled to collaborate with Alexey, Yury, Aaron, and the elite team at ClickHouse to create a recognisable and market-dominating business.
Users of the open-source ClickHouse column-oriented OLAP database management system can instantly produce analytical reports using SQL queries. Its technology processes hundreds of millions to over a billion rows and tens of gigabytes of data per server per second, working 100–1000 times quicker than conventional database management systems. The system has a large user base and has won accolades for its dependability, usability, and fault tolerance.
Faqs
Ans. Clickhouse was created by Aaron Katz and Alexey Milovidov.
Ans. In September 2021 Clickhouse incorporated the House of open source technology.
Ans. Clickhouse is owned by Yury Izrailevsky.
Ans. ClickHouse primarily uses the MergeTree table engine as the basis for how data is written and combined.
