Tinybird has raised a $37 million Series A round led by CRV and Singular Ventures. Your company may have stored a ton of data in a warehouse — everything is in there. But what do you do with it now? Sure, you can generate monthly reports and see how your business is doing. But Tinybird helps companies take advantage of this data in realtime.
In addition to the two VC firms leading the new funding round, existing investor Crane Ventures is participating once again. Datadog’s Chief Product Officer Amit Agarwal is also putting some of his money in the startup.
Tinybird is the sort of product that is easy to understand if you’ve been looking for something like this specifically. Essentially, the company ingests data from wherever you store your data, transforms it using SQL and makes it accessible as a JSON-based application programming interface (API).
And the company manages the infrastructure for you, meaning that you don’t have to spin up more servers as your data sets get larger. You get charged depending on the number of GBs of data you store and process through Tinybird.
When it comes to data ingestion, Tinybird has connectors for various popular data sources, such as databases (PostgreSQL, MySQL…), CSV files hosted in a storage bucket on a public cloud, data warehouses and data streams, from Amazon Redshift to Google BigQuery, Snowflake and Apache Kafka.
After that, Tinybird promises that it can ingest millions of rows per second. Depending on what you want to do with the product, you may want to filter your data, sort it in one way or another and more. Developers can execute SQL queries on ingested data to transform it accordingly.
Finally, customers create API endpoints based on those queries. Instead of reacting to data-driven analytics, you build products that act in realtime. This way, you can integrate Tinybird’s APIs in your application logic.
For instance, you can create realtime analytical dashboards for your customers. Or you can adjust your product pricing depending on realtime usage to avoid bottlenecks. Or you can detect anomalies in your company’s workflow in just a few seconds.
There are some obvious clients, such as companies in the travel industry. They want to know if there’s a seat or a hotel room available as quickly as possible. Logistics and omnichannel retailers could also benefit from a product like Tinybird. And more technical companies, such as cryptocurrency market makers, can build their entire buy and sell strategies based on realtime APIs.
“Analytics has traditionally been used to gain insights about what happened with your business in the past. But being able to analyze and exploit realtime data can fundamentally change how you operate your business: from automating your operations and reacting much faster to opportunities and problems, to providing a realtime and customized user experience for your users,” co-founder and CEO Jorge Gomez Sancha said in a statement.
And it scales well. "Several of our customers are reading over 1.5 trillion rows on average per day via Tinybird and ingesting around 5 billion rows per day, others are making an average of 250 requests per second to our APIs querying several billion row datasets," Jorge Gomez Sancha told me in an interview last year.
The startup recently moved its headquarter from Madrid to New York City. With today’s funding round, the company plans to expand its team in the U.S. and ramp up its product and sales teams.