June 20, 2024
SurrealDB Raises $20M To Disrupt Big Data Industry
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Fueled by the rise of big data and real-time data analytics, the database market has grown exponentially over the last decade. However, the introduction of a multitude of specialized databases has resulted in more complexity for developers. As a response to these challenges, the database market is now going through a phase of rebuilding and simplification.
A growing number of enterprises are using SurrealDB, an open-source database startup, to consolidate their databases into one multi-model platform. This week, the startup has secured a $20 million funding investment to fund its ambitions to disrupt the big data industry.
The funding round was led by FirstMark and Georgian, with participation from Crew Capital and Alumni Ventures. The latest funding brings the London-based startup’s total funding to $26 million.
Matt Turck, FirstMark Partner, said that SurrealDB is rapidly emerging as the leader in rebundling and simplification of databases, and it offers flexibility to develop simple applications or more advanced AI work.
The core focus of SurrealDB is to build on its multi-model database, which consolidates various types of databases into a single platform. This simplified approach empowers developers to quickly adapt to different data requirements, eliminating the need for multiple database systems.
SurrealDB has emerged as one of the preferred platforms for developers looking to consolidate databases. With over 25,000 GitHub stars, SurrealDB is already one of the fastest-growing open-source database projects in the industry. It has the capability to handle a wide range of applications including everything from traditional documents to vector data.
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The average organization manages three or four databases to meet the news of various data models they use, according to SurrealDB. This can result in higher costs and complexity for the organization and can have a negative impact on developer productivity. The programmers may have to spend more time on infrastructure management and need to learn various programming languages to be able to work with each database.
According to SurrealDB, its platform can help developers build real-time applications faster. As a fully managed service that requires minimal backend infrastructure management, SurrealDB also claims it can help developers build applications in a more affordable way.
“As a developer myself, I passionately believe in creating software that enables all developers to focus on building the most innovative applications. With SurrealDB we’re not just enhancing productivity; we’re disrupting the database market. The support and enthusiasm from our community have been instrumental to our growth and success. We are committed to open-source development, and will continue to innovate and provide powerful, accessible tools that empower developers worldwide,” said SurrealDB CEO and co-founder Tobie Morgan Hitchcock.
Built entirely on Rust, SurrealDB handles access permissions, advanced security, and indexing for AI workflows. Rust is a general-purpose programming language renowned for its strong emphasis on safety, speed, and concurrency.
With SurrealDB, developers can use multiple techniques to store and model data. The platform has some similarities to relational databases but with the added advantages of more functionality with advanced nested fields and arrays.
The startup has announced a beta version of Surreal Cloud that offers an ACID-compliant database with enterprise-level scalability. Organizations can use it to compartmentalize workloads for different departments or projects while ensuring all teams have access to a shared data repository. This can help eliminate the need for slow and costly ETL processes.
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