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Neon Raises $46M in Series B Funding

Apr 01, 2024

Neon, a San Francisco, CA-based multi-cloud Serverless Postgres provider, closed $46m Series B funding round.

The round, which brought total funding raised to date to $104m, was led by Menlo Ventures with participation from existing investors Founders Fund, General Catalyst, GGV Capital, Khosla Ventures, Elad Gil, Snowflake Ventures and Databricks. Tim Tully, partner at Menlo Ventures, will be joining Neon’s board of directors.

The company intends to use the funds to double the size of its from 50 to 100 people by year’s end, growing its leadership position in Edge Computing and Vector search, with both these technologies oriented around its open-source Postgres offering, and continue to invest in its partner base.

Led by Nikita Shamgunov, CEO, Neon is a multi-cloud Serverless Postgres provider that is purpose-built to address modern workloads, including edge computing and AI. Neon supports a fast, low-latency version of the node-postgres package that supports edge functions in providers like Vercel and CloudFlare. Neon Postgres is provided as an open-source to developers under the Apache 2.0 license.