Neon, a San Francisco, CA-based provider of a serverless Postgres database built for developers, raised $25.6M in funding.
The round, which brought the total amount to $130.6M, was led by M12, Microsoft’s Venture Fund, with participation from Abstract Ventures, General Catalyst, Menlo Ventures, and Notable Capital.
The company intends to use the funds to expand its development efforts and business reach accelerating the next generation of AI applications built on Azure.
Led by CEO Nikita Shamgunov, Neon helps developers and teams ship faster with Postgres by delivering it as a serverless cloud platform. By separating the compute and storage components without breaking away from core Postgres, it brings the database into the modern developer workflow, making it more automated, easier to manage, and AI-ready. Today, more than 3000 projects are created on Neon daily, empowering everything from startups building the next wave of AI tools, to large platforms like Vercel, Replit and Retool.
FinSMEs
07/08/2024