New financing will allow the open source success to build a world-class, commercial-grade cloud solution that’s secure, compliant, and convenient for any customer to use.
NEW YORK, September 20, 2021--(BUSINESS WIRE)--Creators of the online analytical processing (OLAP) database management system ClickHouse have announced their decision to officially incorporate as a company: ClickHouse, Inc. The creator of ClickHouse, Alexey Milovidov (CTO), will be joined by co-founders and seasoned enterprise software executives, Yury Izrailevsky (President, Product and Technology) and Aaron Katz (CEO), along with nearly $50M in Series A funding led by Index Ventures and Benchmark with participation by Yandex N.V. and others.
ClickHouse’s technology was first developed over 10 years ago at Yandex, Europe’s leading internet service corporation. It was initially created to power Yandex.Metrica, the second-largest web analytics platform in the world. The power and utility of ClickHouse was immediately clear; by offering a true column-based DBMS, it allowed for systems to generate reports from petabytes of raw data with sub-second latencies.
While the systems at the time offered a server throughput of a hundred thousand rows per second, ClickHouse increased that speed to hundreds of millions of rows per second. ClickHouse was made available as an open source solution in 2016, and in the years since has seen its popularity grow exponentially, as evidenced through adoption by industry-leading companies like Uber, Comcast, eBay, and Cisco.
"We’ve been early believers and investors in data infrastructure at Index, and have been fortunate to work with leaders like Elastic, Confluent and Datadog since their early days," said Mike Volpi, Partner at Index Ventures. "It is clear that ClickHouse has a similar exciting trajectory, given its impressive adoption and community buzz. We’re delighted to join their journey as they transition from community phenomenon to an industry-leading company."
"ClickHouse offers a radical breakthrough in OLAP scale and performance and has already captured the imagination of our largest portfolio companies such as Uber," says Benchmark general partner, Peter Fenton. "With the addition of capital and a deeply experienced executive team, the company will allow the global market to gain the competitive advantage of this technology for decades to come."
"We’ve earned a great community of contributors, developers, and users," says Alexey Milovidov. "Their support speaks to the quality and care we put into our product."
Product development will be led by Yury Izrailevsky, co-founder and President. This marks a new chapter in Yury’s storied career as a Silicon Valley thought leader in the cloud, who was leading developer platforms and the serverless cloud offering at Google prior to co-founding ClickHouse. "The diversity of ways companies are deploying ClickHouse is incredibly compelling and speaks volumes to the strength of the technology," says Izrailevsky. "Forming ClickHouse Inc. will allow us to focus on making the product even more powerful, especially when deployed in cloud environments."
Aaron Katz, CEO of ClickHouse, Inc., has spent the last ~20 years building and leading global teams at industry-leading enterprise software companies such as salesforce.com. "We are thrilled to work with the international ClickHouse community on rapidly accelerating open-source product development and, in parallel, deliver a best in class serverless multi-tenant cloud offering," says Katz.
ClickHouse is an open-source, column-oriented OLAP database management system that allows users to generate analytical reports using SQL queries in real-time. Its technology works 100-1000x faster than traditional database management systems, and processes hundreds of millions to over a billion rows and tens of gigabytes of data per server per second. With a widespread user base around the globe, the technology has received praise for its reliability, ease of use, and fault tolerance. Learn more at clickhouse.com.
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