Credit: Stephen Phillips via Unsplash.com
TigerGraph, a graph analytics platform, announced it has raised $105 million in Series C funding, the largest funding round to date within the graph database and analytics market.
The round was led by Tiger Global and brings TigerGraph’s total funding raised to over $170 million. TigerGraph has a presence in China and is opening offices in Singapore and in Indonesia.
“The Asia Pacific digital economy continues to grow and we are seeing increased regional demand. To tap this potential and to better serve our customers in the region, we will be opening offices in Singapore and in Indonesia,” said Todd Blaschka, COO, TigerGraph.
“TigerGraph’s initiatives in Asia will be led by Joseph (Joe) Lee, an enterprise software sales and business veteran, as Vice President, Asia Pacific and Japan. We are expanding at the speed of business and are actively hiring for key positions in Asia.”
TigerGraph helps organizations scale and analyze many different aspects of data to be used with each other to form new models and generate new insights. These new patterns and insights aim to enhance a company’s analytics or machine learning capabilities.
“Our mission is to help governments, businesses, and people to unlock the power of their data and drive actionable, real-time insights-driven decision-making,” added Blaschka.
“TigerGraph already works with the top four largest banks in Asia helping these customers across areas such as Real-time Fraud Detection, Anti-Money Laundering, Credit Risk Assessment, and Customer 360 Analysis. We also work with key telcos in the region, enabling them to analyze customer behavior and prevent fraud.”
Over the last 12 months with the COVID-19 pandemic, companies have embraced digital transformation at a faster pace driving a need to find new insights about their customers, products, services, and suppliers.
“For over 40 years, business’s #1 data management challenge has been how to easily ask business questions across all of their data in real-time to guide their operations. The human brain connects data to derive new insights and helps us decide what to do next. TigerGraph’s mission is to power an enterprise brain with graph and AI that discovers these new insights within the enterprise data stored in the cloud and on-prem,” said Dr. Yu Xu, founder and CEO of TigerGraph.
“TigerGraph is leading the paradigm shift in connecting and analyzing data via scalable and native graph technology with pre-connected entities versus the traditional way of joining large tables with rows and columns. This funding will allow us to expand our offering and bring it to many more markets, enabling more customers to realize the benefits of graph analytics and AI.”
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