Benchmark leads Series A funding of open source database company Timescale

New York-based Timescale, an open source database company, announced it has raised $12.4 million in a Series A round of funding. Benchmark led the round, which included participation from New Enterprise Associates, Two Sigma Ventures and several angels, including the CEOs/founders of Hortonworks, Cloudflare, Data Domain, Nicira, Barefoot Networks, Right Media, Moat, Segment and Cockroach Labs. The company, which previously raised an unannounced $3.7 million seed-stage round led by NEA, has now raised more than $16 million in total equity. As part of the Series A, Peter Fenton has joined the board, which includes Forest Baskett of NEA and co-founders Ajay Kulkarni and Mike Freedman.

Source: Company release