TLDR:
Neon Inc., a serverless database startup, has secured $25 million in funding led by Microsoft Corp.’s M12 venture capital arm. The company offers a commercial distribution of the open-source Postgres database with additional features for easier management. Neon’s platform features a serverless architecture, autoscaling engine, and decoupled storage and compute allocation. The funding will support the hiring of 20 new workers, an emphasis on growing engineering teams, and making the database available on Microsoft’s Azure cloud platform.
Article Summary:
Neon Inc., a startup specializing in a serverless distribution of the open-source Postgres database, has raised $25 million in funding. The investment was led by Microsoft Corp.’s M12 venture capital arm, along with existing Neon investors. This brings the company’s total funding to over $130 million.
Neon’s commercial version of Postgres offers additional features to make database management easier. The platform utilizes a serverless architecture, an autoscaling engine for resource management, and decoupled storage and compute allocation, reducing unnecessary infrastructure expenses.
One highlighted feature of Neon’s Postgres distribution is a tool called branching, which allows for the quick creation of copies of information within the database environment. This feature is useful for tasks such as disaster recovery and testing new applications.
Neon’s platform has gained traction with several thousand paying customers since its launch, with an additional free tier utilized by hundreds of thousands of developers. The recent funding round will enable the company to hire 20 new workers by the end of the year and expand its engineering teams. Neon also plans to make its database available on Microsoft’s Azure cloud platform.
