July 26, 2022, in SAN FRANCISCO, The first fully-managed, multi-cloud, open-source Postgres as a Service provider, Neon, Inc., has secured USD 30 million in its Series A-1 round.
With assistance from a noteworthy angel investor group that included Nat Friedman, Ajeet Singh, Guillermo Rauch, Wes McKinney, Ryan Noon, and Sren Brammer Schmidt, GGV Capital led a knowledgeable investing group that also included Khosla Ventures, General Catalyst, Founders Fund, and Elad Gil. After a successful Series A round, Neon has doubled its overall funding to USD 54.3 million.
This significant fundraising round demonstrates investors’ trust in Neon’s vision, objectives, and capabilities. Neon will keep adding functionality as it develops to give developers a more cutting-edge, serverless Postgres experience.
What the founder has to say:
According to Nikita Shamgunov, CEO of Neon, “the Postgres community is already responding to what’s possible with a modern, cloud-native architecture. Thanks to this increased investment, neon is better prepared to create and release new features that will revolutionize the developer experience.
What the investors have to say:
Glenn Solomon, Managing Partner at GGV Capital and Neon board member:
“Modern software runs at unmatched speeds, is distributed, cloud-based, and runs at the edge. GGV Capital has been searching for a serverless Postgres-based backend solution tailored to contemporary application developers’ requirements. A fantastic solution has been created by Nikita Shamgunov and the Neon team, giving developers access to the cloud-based backend databases they require to complete their front-end applications. Neon’s future is highly promising given the significant developer interest.”
More about the company:
Heikki Linnakangas and Stas Kelvich, two Postgres hackers, co-founded Neon, which was nurtured at Khosla Ventures by Nikita Shamgunov, who joined as CEO early this year. With this additional money, Neon will be able to bootstrap a GTM team in addition to expanding its product line and growing overall. The business continues to prioritize developer experience while concentrating on developing relationships with developers. Neon provides a cutting-edge, dependable platform with bottomless storage and autoscaling, which results in significant cost savings.
Neon provides autoscaling, one-click start, multi-cloud interoperability, and bottomless storage to give developers a straightforward, dependable, and potent experience by separating storage from computing. With a substantial free tier, developers may launch immediately and scale effectively as needed.
Neon’s distinct architecture, which separates storage and processing, is the foundation for features that enhance the developer experience while reducing expenses. Following the release of its Technical Preview, over 3,600 developers “starred” Neon on GitHub, and this excitement led to a front page listing on Hacker News.
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