Materialize Secures $40M to Advance SQL Streaming Database Technology
Key Investment Highlights
- $32M Series B led by Kleiner Perkins with Lightspeed Ventures participation
- $8M Series A (previously unannounced) led by Lightspeed in 2019
- Total funding: $40 million to accelerate product development
The Vision Behind the Funding
Materialize, the innovative SQL streaming database startup built on Timely Dataflow, is poised to transform real-time data processing. The investment underscores growing market demand for accessible streaming data solutions.
Leadership With Proven Expertise
CEO Arjun Narayan (ex-Cockroach Labs) and Chief Scientist Frank McSherry (creator of Timely Dataflow) lead a team committed to:
- Democratizing real-time data analytics
- Eliminating specialized skill requirements
- Leveraging standard SQL for universal accessibility
“We’re enabling businesses to build intelligent applications using familiar SQL,” Narayan explains. “This removes the barrier of learning new query languages for streaming data.”
Why Investors Are Betting on Materialize
Kleiner Perkins partner Bucky Moore highlights the game-changing potential:
“Materialize’s SQL-over-streaming solution addresses a critical market need. As businesses increasingly rely on real-time data, their technology positions them to build the next great data platform.”
Competitive Differentiation
While comparisons to Confluent (built on Apache Kafka) are inevitable, Materialize stands out by:
- Using standard SQL rather than proprietary query languages
- Offering lower technical barriers to adoption
- Focusing on immediate business usability
Growth Trajectory and Future Plans
Commercial Strategy
- Current offering: Enterprise support with SLAs
- Upcoming SaaS version expected in 2023
Team Expansion
- Current headcount: 20 employees
- Planned doubling of workforce by end of 2023
Commitment to Diversity
Narayan emphasizes intentional hiring practices:
- Broadening recruitment pipelines beyond existing networks
- Implementing metrics to ensure diverse candidate sourcing
- Balancing remote work with planned NYC headquarters post-pandemic
“Diversity requires conscious effort at every hiring stage,” Narayan notes. “It’s about creating systems that naturally foster inclusion.”
The Future of Streaming Data
With this significant funding round, Materialize is positioned to:
- Accelerate product development
- Expand market reach
- Establish itself as a leader in accessible real-time data solutions
The investment validates the growing importance of streaming databases in an increasingly real-time business landscape.
