Tech Company Financing Transactions
Neon Funding Round
Neon, based in Menlo Park, received $46 million from Menlo Ventures, Databricks and Elad Gil.
Transaction Overview
Company Name
Announced On
8/1/2023
Transaction Type
Venture Equity
Amount
$46,000,000
Round
Series B
Investors
Menlo Ventures (Lead Investor) (Tim Tully)
GGV Capital (Glenn Solomon)
Proceeds Purpose
The company intends to use the funds to double the size of its from 50 to 100 people by year's end, growing its leadership position in Edge Computing and Vector search, with both these technologies oriented around its open-source Postgres offering, and continue to invest in its partner base.
Company Information
Company Status
Private & Independent
Industry
Software
Mailing Address
Undisclosed
Menlo Park, CA 94025
USA
Menlo Park, CA 94025
USA
Phone
Undisclosed
Website
Email Address
Overview
Neon is a fully managed serverless Postgres with a generous free tier. Neon separates storage and compute, offering modern developer features such as serverless, branching, bottomless storage, and more. Neon is open source and written in Rust.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Nikita Shamgunov
Co-Founder
Stas Kelvich
Co-Founder
Heikki Linnakangas
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We do our best to document tech company VC transactions. VC investment data records reported here are sourced from a variety of public sources. The data comes to us via our partnership with VentureDeal.com, an affiliated venture.
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