Blog > SequoiaDB Raises Tens of Millions of Dollars in Series C Round

SequoiaDB Raises Tens of Millions of Dollars in Series C Round

 2018-09-17  SequoiaDB

In September 2018, SequoiaDB announces a tens of millions of dollars Series C funding round led by Harvest Investment. The previous investors—Qiming Venture Capital and DCM have also participated in this round.

SequoiaDB is the leading distributed database company in China. Since the establishment in 2011, SequoiaDB has been insisting on developing an open-source distributed database engines from scratch. In 2017 and 2018, SequoiaDB has been listed in Gartner’s database report, and it is the first Chinese database vendor listed. SequoiaDB now has more than 1000 enterprise customers and community users. SequoiaDB has been deployed on core system of more than 50 major financial institutions, like banking, insurance and security clients of Fortune- 500 Level.

Qiu Xiaochuan, CEO of Harvest Investment Management Co., said: “SequoiaDB and Alibaba Cloud are the first Chinese database vendors listed in the Gartner database report. The technology leadership, financial stability, security and maturity of product market of SequoiaDB has once again been highly recognized by the industry. We believe that the core technology, innovation capability and efficient execution of the team will make SequoiaDB one of the most promising technology companies in China.”

The B-round investor of the SequoiaDB, DCM partner Zeng Zhenyu said: " SequoiaDB has been insisting on developing an open-source distributed database engines from scratch since 2011. It has been unanimously recognized by the industry and the market. We also hope that SequoiaDB will continue to give back to the technology community in the future, build an open source technology ecosystem, and jointly promote the development of open source and basic software technologies in China."

Ye Guantai, the A-round investor of SequoiaDB, said: “The large commercial bank customers are the “touchstone” of enterprise-level software. The financial-level database products of SequoiaDB are already widely recognized and used in the banking industry with the most technical requirements and the greatest market-demanding, which represents the highest standards of database products. We are very optimistic about the market prospect of SequoiaDB.”

The angel investor of SequoiaDB, the CSDN and GeekFounder’s founder, Jiang Tao, said: "SequoiaDB uses the same computing-storage separation architecture as AWS Aurora, which is the current mainstream architecture of distributed cloud databases. At the same time, Gartner and we believe that the multi-model engine of SequoiaDB is the mainstream of the development of distributed databases under the trend of cloud databases."

Wang Tao, the co-founder of SequoiaDB said: "SequoiaDB has realized the full coverage of distributed transaction database, distributed object storage platform, ultra-high-performance distributed database and cloud database. Since SequoiaDB 3.0 has been released, it has further enhanced the support of financial-level distributed OLTP scenarios. Through adapting the architecture of the cloud database, SequoiaDB is MySQL/PostgreSQL compatiable.

After raising tens of millions of dollars of Series C, SequoiaDB will continue to increase R&D and technological innovation. Based on the financial industry, it will develop other vertical market segments, and expand more enterprise-level application scenarios. In the meantime, SequoiaDB will accelerate the pace of internationalization to build a world-class distributed database product.

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