Fauna raises an additional $27M to turn databases into a simple API call – ProWellTech
Databases have always been a complex part of the equation for developers who require a delicate balance to manage within the application, but Fauna wants to make adding a database a simple API call and today announced $ 27 million in new funding.
The round, which is technically an extension of the company’s 2017 Serie A, was led by Madrona Venture Group with the participation of Addition, GV, CRV, Quest Ventures and a number of individual investors. Today’s investment brings the total raised to $ 57 million, according to the company.
While there, the company also added some executive power to the fire, announcing that it was bringing former Okta product chief Eric Berg as CEO and former CEO of Snowflake Bob Muglia as president.
Companies like Stripe for payments and Twilio for communications are the poster children for switching to the API. Instead of creating sophisticated functionality from scratch, a developer can use an API call to a service, and soon the tools are integrated seamlessly. Fauna does the same for databases.
“In just a few lines of code with Fauna, developers can add a globally distributed database with full functionality to their applications. They can simplify the code, reduce costs and ship faster because they no longer care about database issues such as correctness, capacity, scalability, replication, etc. ”, The new CEO Berg told ProWellTech.
To further automate the process, the database is serverless, which means that it automatically grows or shrinks to meet the needs of the application. Company co-founder Evan Weaver, who moved to CTO with Berg’s hiring, says Stripe is a good example of how it works. “You don’t think about Stripe provisioning because it’s not necessary. […] You sign up for an account and beyond that you don’t need to provision or manage anything, “Weaver explained.
Like most API companies, it is working at the developer level to build consensus on communities and developers. Today they have 25,000 developers using the tool. Although they don’t have an open source version, they try to attract developer interest with a generous free tier, after which you can pay on the go or set a fixed monthly price as you increase.
The company has always been 100% remote, so when it hit COVID, it didn’t change the way the company’s 40 employees work. As the company grows, Berg claims to have aggressive goals in terms of diversity and inclusion.
“Our recruitment and human resources team has some rather aggressive goals in terms of thinking about diversity in our pipelines and our recruiting efforts and, as we are a small team today, we have the ability to influence this as we grow. If we double the size of the company, we could shift these percentages quite dramatically, so it’s definitely the best thing for us. “
Weaver says fundraising started last year before COVID’s success, but the deadline wasn’t signed until April. He admits to being nervous throughout the process, especially when the pandemic has made its way. A company like Fauna is highly technical and takes time to grow, and was concerned about making investors understand that, even without a gloomy economic picture, it was a challenge.
“It is a deeply technological business and requires real capital to grow and downsize. It’s a high-risk, high-yield bet that’s easier to finance in booming times, but overall I think the best companies are built during recessions when there is less competition for talent and more focus on capital. ” .