Neon, a company that provides a cloud-based database management solution, recently announced the completion of its $46 million Series B funding round led by Menlo Ventures. This round follows its Series A in 2022 and brings its total venture funding to $104 million. This funding will enable Neon to double the size of its team from 50 to 100 people by the end of the year.
The company’s Serverless Postgres solution allows developers to focus on app features, latency and development speed instead of database management and scaling. Its customer base has grown from 20,000 to 100,000 databases in less than six months.
Neon is available as an open-source platform for developers under the Apache 2.0 license. With this additional funding, Neon will further its work in the edge computing and vector search areas.
