PlanetScale raises $30M in Series B from Insight Partners

SaaS News -PlanetScale-raises-$30M-Series-B (source: SaaS Industry)
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PlanetScale, the creator of Vitess, has raised $30M in Series B funding to scale its team, increase the adoption of its platform. PlanetScale’s solutions help mitigate the complexities in database management

PlanetScale, the pioneer of Vitess, a database clustering system for MySQL, has announced its Series B fundraise of $30 million, led by Insight Partners. Andreessen Horowitz and SignalFire participated in the round.

In a statement to the press, Jiten Vaidya, co-founder, and CEO of PlanetScale, thanked the investors for their support and stated that the PlanetScale team’s goal was to provide the power of Vitess, a database technology made by and for hyperscalers, to those who require it. 

We are now focused on getting PlanetScale into the hands of the developers that need it most and look forward to seeing what amazing things they can create with it.

Jiten Vaidya, co-founder, and CEO of PlanetScale

PlanetScale, founded in 2018, aims to modernize the database industry. Its solutions offer a serverless experience and mitigate the complexities involved in database management. Its open-source project, Vitess, is used by GitHub, HubSpot, Slack, and Square to serve millions of queries per second. The company stated that Nikhil Sachdev, managing director at Insight Partners, would join the PlanetScale Board. Praveen Akkiraju, also a managing director at Insight Partners, would be named a board observer.

PlanetScale stated that the proceeds from the fund would be used to scale its team globally, accelerate exposure and adoption of its platform, allowing developers to create new databases in seconds with limitless scalability.

Commenting on the investment, Mr. Sachdev enunciated that the developer experience for databases has been painful for some time now. However, PlanetScale has been breaking that chain by solving longstanding problems related to scalability and reliability, usefully and elegantly. 

PlanetScale is setting a new bar for simplicity, performance, and scalability for cloud-based databases in the serverless era. We are extremely pleased to have led this round and are looking forward to working closely with Jiten and the amazing team he has assembled to become a leader in the database market.

Nikhil Sachdev, managing director at Insight Partners
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