Advanced Analytics and Machine Learning startup, TigerGraph secured $105M in Series C Funding

TigerGraph, a Redwood City-based provider of a graph analytics platform, has recently secured $105 million in a Series C funding round.

TigerGraph is founded by Dr. Yu Xu. It is a platform for advanced analytics and machine learning on connected data. Based on a distributed native graph database, the company's latest technology supports machine learning and advanced analytics applications such as entity resolution, fraud detection anti-money laundering, knowledge graph, recommendations, IoT, supply chain, network analysis, and cybersecurity.

Dr. Yu Xu, founder, and CEO of TigerGraph, said, "For over 40 years, businesses’ #1 data management challenge has been how to easily ask business questions across all of their data in real-time to guide their operations. The human brain connects data to derive new insights and helps us decide what to do next. TigerGraph’s mission is to power an enterprise brain with graphs and AI that discovers these new insights within the enterprise data stored in the cloud and on-prem. TigerGraph is leading the paradigm shift in connecting and analyzing data via scalable and native graph technology with pre-connected entities versus the traditional way of joining large tables with rows and columns. This funding will allow us to expand our offering and bring it to many more markets, enabling more customers to realize the benefits of graph analytics and AI."

The round, which brought the total funding secured to around $170 million, was backed by Tiger Global.

The company as of now has plans to use the new funds for product innovation and development. It includes the TigerGraph Cloud on Google Cloud Platform, Azure, and AWS. The company also plans on expanding its global outreach with support in Australia/New Zealand and Asia and to scale up with additional hiring in the APAC, Americans, and EMEA, notes the announcement.