Timescale Raises $16M From Benchmark, NEA, and Two Sigma Ventures

Timescale has raised $16 million in funding from Benchmark, NEA, Two Sigma Ventures, and other prominent angels to develop a new kind of time-series database designed for scalability and complex analysis. The company's product, TimescaleDB, is the first open-source time-series database built on Postgres, offering reliability, power, and ease of use while addressing the growing need for handling machine data. Since its launch last April, developers have downloaded TimescaleDB over 100,000 times, with businesses using it in industries such as manufacturing, utilities, oil & gas, mining, smart spaces, ad tech, finance, and telecom.