Neon doubles funding to $54M
Neon completed Series A-1 round
July 26, 2022
Neon just completed our Series A-1 round, raising $30M to more than double our total funding to $54.3 million. This latest injection of capital means we’re ready to give developers the best Postgres experience in the cloud.
How we’re capitalizing on this investment
With this new round of funding, we’ll grow our engineering team, build out our product roadmap, and bootstrap a GTM team. This capital ensures we can keep expanding a strong developer relations team and continue our never-ending pursuit of giving Neon users the best developer experience.
As Postgres hackers, and systems, and cloud engineers, we know how critical a good developer experience is to building great products. Every developer needs a database, and in many cases, they’ve made their choice – Postgres. That's why we're taking full advantage of the opportunity this funding provides to add features to Neon during our technical preview and find new ways to support our fast-growing community.
Looking ahead, we’re committed to growing our user base by opening new cloud regions, building team collaboration and other developer-centric features, which will improve developer productivity and create substantial cost savings.
To ensure we’re positioned for long-term success, we continue to partner with VCs and angel investors who share our mission of simplifying the developer experience. GGV Capital led our latest round, with support from:
- Founders Fund
- General Catalyst
- Khosla Ventures
- Elad Gil
Our angel investors include:
- Nat Friedman
- Ajeet Singh
- Guillermo Rauch
- Wes McKinney
- Andy Pavlo
- Søren Brammer Schmidt
- Mike Ovitz
- Amjad Masad
- Oleg Rodzinsky
Building our community
We’ve been excited by the response from users during our technical preview. We received a large batch of sign ups after a Hacker News post was published about us prior to our beta launch. We have over 3,700 stars on Github and continue to onboard new users from our invite list daily. In a short period, the developer community has validated our belief that developers want feature-rich, cloud-based services that enhance, instead of stifle, productivity.
The company started as an incubation at Khosla Ventures, led by our CEO and Partner at Khosla Ventures, Nikita Shamgunov. The founding team had three people; myself, Nikita, and long-time Postgres hacker Heikki Linnakangas.
In our formative months, we put most of our efforts into nailing down our architecture of separating storage and compute that enables the following DevX features:
- Serverless: run a compute layer that scales up with traffic changes and down to zero when the database isn’t in use.
- Branching: Instantly create a branch for your test environments for each code deployment in your CI/CD pipeline.
- Time machine: reset your database state to a previous point in time without the typical wait time or costs or simply query as of some time in the past.
We are certain that no other database service has the full feature set that Neon offers. At the same time Neon stays true to open source, Postgres and provides 100% compatibility with Postgres apps. Investors and partners are equally committed to our aggressive roadmap. This latest funding round gives us a solid foundation to pursue our ambitions to give you the best Postgres experience in the cloud.
We’re growing our remote, global team with a number of open roles in engineering, product, and operations.
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