Tinybird raises another $30 million to turn data into real-time APIs

Little bird is not so small anymore. First covered three years ago, the enterprise data startup JS is growing at a rapid pace and recently raised a $30 million Series B funding round. According to a source, the company is now valued at $240 million.

Originally from Madrid and now also based in New York, Tinybird is working on a complex data product from an extremely simple perspective. Essentially, it helps companies take advantage of the large amounts of data they have so they can reuse this information in their products in near real-time.

Tinybird first ingests data in real time from event streaming platforms such as Kafka, Amazon Kinesis, or Pub/Sub. It can also ingest data from BigQuery, Snowflake, Amazon S3 and other storage locations.

Then developers can filter the dataset or combine information from multiple sources using SQL queries. Finally, Tinybird creates API endpoints based on the outcome of those queries. This way, developers can query their data in their product using a standard JSON-based API. Customers use the product for real-time analytics and personalization, sports gambling, smart inventory management and – more generally – operations management.

What makes Tinybird particularly interesting is that it does not rely on data pipelines – so-called ETL (Extract/Transform/Load) or ELT (Extract/Load/Transform) processes – to connect the data sources to Tinybird. So there is no need to use Airbyte, Stitch, Fivetran or other data integration tools.

Tinybird is also fast and can process a surprisingly large amount of data in a short time. “We have customers who process half a million records per second and we process several PetaBytes every day,” co-founder and CEO Jorge Gómez Sancha told JS.

The product it is built on ClickHousean open-source column-oriented database that is highly responsive when it comes to processing SQL queries.

“To enable engineering teams, data teams need a centralized platform to operationalize both batch and streaming data,” said Gómez Sancha. “They need a reliable, end-to-end scalable system with fewer technical transfers, fewer performance compromises and fewer parts and processes to maintain.”

The company has tripled its turnover in the past year and now works with well-known clients such as Vercel, Canva and Fanduel. That's why it raised its Series B round, with Balderton leading the round. The company raised a $37 million Series A round in 2022 and a $3 million seed round in 2021.

While Tinybird doesn't raise much money compared to its Series A round, the company says its valuation is “significantly higher” with the new round. Existing investors CRV, Singular and Crane are also investing again.

“This round will help us be more aggressive and accelerate the initiatives that will strengthen our advantages as a real-time data platform for engineering and data teams, from accommodating more data sources and standards like Apache Iceberg that are designed to handle ever-increasing amounts of data. data, to using AI to help developers optimize SQL queries and data schemas to reduce latency and improve performance,” said Gómez Sancha.

It is certainly true that managing data at scale leads nowhere. So building a product that makes this process a little easier sounds like a good business plan.

Ingrid Lunden contributed to reporting.

Image credits: Little bird

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