PingCAP joined the Unicorn Club after raising $641.6 million in funding across multiple rounds, reaching a $3 billion valuation. Founded in 2015 and headquartered in Sunnyvale, California, United States, PingCAP builds TiDB, a cloud native distributed SQL database for scalable transaction processing and real-time analytics. The company’s products support hybrid transactional and analytical workloads for enterprise cloud environments.
Keep reading to learn how PingCAP scaled its funding and growth in cloud data infrastructure.
What Is PingCAP and What Does It Do?
Founded in 2015, PingCAP develops TiDB, an open-source, distributed NewSQL database that combines transactional and analytical processing capabilities. TiDB provides horizontal scalability, high availability, and strong consistency in a cloud native architecture that supports both OLTP and OLAP workloads. Its products include TiDB Cloud Serverless and TiDB Self-Managed, serving organizations that require scalable data solutions for modern applications in finance, e-commerce, and cloud services.
How Much Funding Has PingCAP Raised?
1. Seed Round
- Amount Raised: $1.6 million
- Date: April 2015
- Lead Investors: Not publicly disclosed
- Purpose: Kickstart development of TiDB and build early team
2. Series A Round
- Amount Raised: $5 million
- Date: August 2016
- Lead Investors: Yunqi Partners
- Purpose: Accelerate product development and expand team
3. Series B Round
- Amount Raised: $15 million
- Date: June 2017
- Lead Investors: China Growth Capital (CGC)
- Purpose: Expand TiDB features and scale operations
4. Series C Round
- Amount Raised: $50 million
- Date: September 2018
- Lead Investors: Fosun International, Morningside Venture Capital
- Purpose: Support global expansion and innovation in core database technology
5. Series D Round (First Close)
- Amount Raised: $270 million
- Date: November 2020
- Lead Investors: 5Y Capital, Access Technology Ventures, Anatole Investment, GGV Capital, Jeneration Capital
- Purpose: Expand R&D, grow TiDB Cloud, and strengthen global market presence
6. Series D Round (Second Close)
- Amount Raised: $300 million
- Date: May 2021
- Lead Investors: Sequoia Capital, GGV Capital, GIC, Coatue
- Purpose: Scale cloud offerings, accelerate global expansion, and advance TiDB ecosystem
Total Funding Raised: $641.6 million Latest Funding Date: May 2021 Latest Known Valuation: $3 billion Clay+1
Key Investors
- Sequoia Capital
- Details: Global venture capital firm backing technology leaders
- Focus Areas: Enterprise software, cloud, infrastructure, data platforms
- GGV Capital
- Details: Multistage venture firm investing in cloud and infrastructure tech
- Focus Areas: Enterprise software, cloud services, open source
- 5Y Capital
- Details: Growth-focused investment firm previously known as Morningside Venture Capital
- Focus Areas: Technology innovation across cloud, data, and software
- Yunqi Partners
- Details: Early-stage venture capital firm with technology focus
- Focus Areas: Cloud computing, enterprise tech, innovative software
- Access Technology Ventures
- Details: Technology investment arm focused on growth software companies
- Focus Areas: Enterprise software, cloud services, infrastructure
Where Is PingCAP’s Headquarters?
PingCAP is headquartered in Sunnyvale, California, United States, serving as the central hub for its global engineering, product strategy, and cloud infrastructure operations.
What’s Next for PingCAP?
PingCAP plans to deepen its cloud native database capabilities, expand TiDB Cloud adoption, and enhance its hybrid transactional and analytical processing offerings. The company is investing in global expansion, strengthening engineering talent, and improving developer tools to support wider enterprise adoption of scalable data infrastructure.
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