Postgres managed service provider Tembo has announced the successful closure of a $14 million Series A funding round. The round was led by GreatPoint Ventures, with participation from Venrock, Grand Ventures, Wireframe Ventures, Defined Capital, and Cintrifuse Capital, along with several prominent angel investors.
In the contemporary enterprise landscape, it would be quite common for organizations to rely on multiple database vendors, averaging around seven, which can be both costly and inefficient. Tembo aims to address this issue by consolidating the modern data stack through the use of Postgres, renowned as the world’s most advanced open-source relational database. The company’s mission is to empower developers to use Postgres for their diverse and growing data capture and storage needs, particularly significant given the rising data demands driven by AI advancements.
Ry Walker, Founder and CEO of Tembo, emphasized the versatility and power of Postgres, stating, “Postgres isn’t just a database; it’s a powerful platform capable of anything from simple applications to complex data ecosystems. With the right foundation, the possibilities are limitless. Tembo provides that foundation while making open source safe for enterprises. This new funding is instrumental in our efforts to provide the full power of Postgres as a service for developers and enterprises to succeed.”
Less Complex Data Pipelines
In the past six months, Tembo has experienced rapid growth, adding several key executives from Fortune 500 companies and leading innovators in the data industry. This includes CTO Samay Sharma, who leads Product Strategy; David Wheeler, creator of pgxn, who will spearhead the merger of Trunk and pgxn as well as Tembo’s involvement in the new pgEF foundation; Jason Peterson, joining as a Senior Engineer on the Stacks team; and Shaun Thomas, who will serve as a Senior Engineer on the Cloud team. These strategic hires would enhance Tembo’s capability to offer a unified platform with exceptional Postgres expertise and support across a wide array of use cases.
Ray Lane, former President of Oracle and Managing Partner at GreatPoint Ventures, remarked on Tembo’s potential, “In the same way that Oracle transformed databases and the cloud, Tembo is poised to change our understanding of what Postgres can do. Simplifying the life of a developer is meaningful. Tembo will enable less complex data pipelines powered by Postgres.”
This funding round follows a robust first half of the year for Tembo, marked by a significant increase in Annual Recurring Revenue (ARR), which would continue to rise. The newly secured funds will be directed towards further growth in ARR through strategic hires, marketing initiatives, product development, and bolstering their presence within the developer community.
Tembo’s managed service leverages Postgres to provide solutions for transactional, analytical, and AI workloads across any cloud environment, enabling organizations to fully harness the capabilities of this popular open-source database.
