TigerGraph has raised $105 million in Series C funding, the largest funding round to date within the graph database and analytics market
Led by Tiger Global, the funding round brings TigerGraph’s total funding raised to over $170 million.
TigerGraph already has a presence in China and is opening offices in Singapore and in Indonesia, to tap increased demand in the Asia-Pacific region.
“TigerGraph’s initiatives in Asia will be led by Joseph Lee, an enterprise software sales and business veteran, as Vice President, Asia Pacific and Japan,” said Todd Blaschka, COO of TigerGraph. “We are expanding at the speed of business and are actively hiring for key positions in Asia.”
In the business of helping governments, businesses and people to unlock the power of their data and drive actionable, real-time insights-driven decision-making, TigerGraph already works with the four large banks in Asia in areas of helping these customers across areas such as Real-time Fraud Detection, Anti-Money Laundering, Credit Risk Assessment, and Customer 360 Analysis.
“We also work with key telcos in the region, enabling them to analyse customer behaviour and prevent fraud,” added Blaschka.
With its distributed native graph architecture, TigerGraph helps organisations scale fast, analyse many different aspects of data to be used with each other to form new models and generate new insights.
These new patterns and insights enhance a company’s analytics or machine learning capabilities and can be deployed anywhere with multi-cloud flexibility and support the data security requirements for regulatory compliance.
Over the last 12 months with the COVID-19 pandemic, companies have embraced digital transformation at a faster pace driving an urgent need to find new insights about their customers, products, services, and suppliers. This helped TigerGraph experience massive growth, more than doubling revenues and customers over the past year.
“TigerGraph is leading the paradigm shift in connecting and analysing data via scalable and native graph technology with pre-connected entities versus the traditional way of joining large tables with rows and columns,” said Yu Xu, founder and CEO of TigerGraph. “This funding will allow us to expand our offering and bring it to many more markets, enabling more customers to realise the benefits of graph analytics and AI.”
The company will use the funding for product innovation and development to better support its customers, including TigerGraph Cloud on Google Cloud Platform, which will be available March 2021, plus further multi-region support on AWS and Azure.