vesoft Raises Nearly $10M in Pre-A+ Round Led by Source Code Capital

源码资本·November 16, 2020·0·5

It has been battle-tested across multiple business scenarios at leading tech companies, with proven results in financial risk control, knowledge graphs, and other applications at more than ten enterprises including Tencent, Meituan, Qichacha, Xiaohongshu, and 360 Finance.

Hangzhou vesoft Technology Co., Ltd. (hereinafter referred to as "vesoft"), the developer of Nebula Graph, a new generation of independently developed open-source distributed graph databases, has completed a nearly $10 million Pre-A+ round of financing. This round was led by Source Code Capital, with existing investors Matrix Partners China and Redpoint China Ventures — who led the previous two rounds — participating again. The funds will be used primarily for product development and global market expansion.

vesoft is a technology startup. Its founding team comes from well-known domestic and international companies including Facebook, Alibaba, and Huawei, with extensive experience in graph database and big data development and operations. vesoft is dedicated to the development of the open-source distributed graph database Nebula Graph, providing customers with stable and efficient internet infrastructure services.

Nebula Graph: An Independently Controllable Open-Source Distributed Graph Database

Nebula Graph is an open-source distributed graph database truly capable of handling ultra-large-scale datasets with hundreds of billions of vertices and trillions of edges, as well as real-time risk control (anti-fraud, anti-money laundering, anti-insurance fraud, etc.). It offers high-throughput, low-latency read and write capabilities, with built-in ACL mechanisms and user authentication to provide secure database access.

Nebula Graph Introduction

As a high-performance, highly reliable graph database, Nebula Graph provides linear scalability and supports data recovery through snapshots. In terms of query language, the development team has independently developed nGQL — and starting from version 2.0, it will gradually become compatible with the openCypher 9 standard, allowing Neo4j users to transition to Nebula Graph seamlessly.

As of press time, Nebula Graph has been deployed across multiple business scenarios at numerous top-tier tech companies, with its capabilities validated in financial risk control, knowledge graphs, and other applications at Tencent, Meituan, Qichacha, Xiaohongshu, 360 Finance, and more than ten other enterprises.

Sherman Ye, Founder and CEO of vesoft, said: "The relationships between data points will be the next major driver of business growth, and rapidly uncovering the associative value behind data is key to enhancing business value. In its 2020 Top 10 Strategic Technology Trends, Gartner identified connected relationships as the foundation for all data analytics to generate value. Gartner data shows that by 2023, 30% of organizations worldwide will rely on graph technology to deliver rapid associative results for decision-making. Nebula Graph's native graph storage effectively avoids data silos, enabling efficient exploration and querying of complex relational data to empower business. We believe that with the core R&D team's years of experience in graph technology, vesoft will help enterprises win this battle of connections."

Chen Runze of Source Code Capital said: "Through conversations with enterprises across different industries, we've observed that managers are increasingly focused on the hidden value in relationships between objects — from people, products, digital content, and geographic locations to devices, neurons, atoms, and knowledge. Graph databases are the optimal infrastructure for capturing and leveraging these relationships. vesoft's team has extensive experience in graph database product development, with products that have been tested in demanding scenarios; the team also has deep understanding and insight into business requirements and the evolution of graph database technology. We believe vesoft will help more customers unlock potential in complex relational data through excellent graph database products."