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One of Neon’s standout features is its ability to decouple storage and compute resources, allowing developers to scale these components independently
Neon Inc., a serverless database startup specializing in an advanced distribution of the open-source Postgres database, has raised $25 million in fresh funding. The round was led by Microsoft Corp.’s M12 venture capital arm, with participation from existing investors Abstract Ventures, General Catalyst, Menlo Ventures, and Notable Capital. This latest funding brings Neon’s total investment to over $130 million.
Neon’s platform offers a commercial version of Postgres, enhanced with features that simplify database management and optimize infrastructure costs. Notably, the startup’s serverless architecture automates resource management, scaling hardware capacity up or down based on workload demands. This ensures efficient infrastructure usage and minimizes unnecessary expenses. One of Neon’s standout features is its ability to decouple storage and compute resources, allowing developers to scale these components independently. Additionally, the platform includes a branching tool that facilitates quick duplication of database environments, aiding both development and disaster recovery efforts.
Since its launch in 2021, Neon has attracted several thousand paying customers and hundreds of thousands of developers using its free tier. The new capital infusion will fuel the startup’s expansion, including the hiring of 20 additional engineers by year’s end and extending its database services to Microsoft’s Azure cloud platform. Neon’s innovative approach to database management is poised to meet the growing demands of modern enterprises, offering a flexible and cost-effective solution for data-driven businesses.
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