EdgeDB Secures $15 Million in Funding to Develop Groundbreaking Cloud Database Service

EdgeDB, an innovative tech startup that aims to revolutionize the relational database market, has announced a successful $15 million Series A funding round, led by Nava Ventures and Accel. This increased investment brings the company's total funding to $19 million. EdgeDB CEO Yury Selivanov said the money would be used to expand the company's team and expedite the launch of EdgeDB Cloud, a hosted version of its flagship database solution.

Explaining the importance of the forthcoming cloud-based service, Selivanov stated: "Cloud, which in our case is database-as-a-service, requires significant investment upfront to build a reliable and scalable infrastructure. We plan on eventually introducing turn-key integrations with Vercel, Netlify, GitHub, GitLab, Sentry, DataDog, and other services, making EdgeDB Cloud the key component of the future application stacks."

Co-founded in 2019 by Selivanov and Elvis Pranskevichus, EdgeDB emerged from their earlier software development consultancy, MagicStack. Although initially focused on custom tooling for clients, the founders soon determined to shift gears and create a purely product-driven company. EdgeDB specializes in relational databases, which are collections of data items arranged according to predefined relationships. However, as Selivanov notes, EdgeDB's offering "reinvents pretty much every concept" about relational databases, sporting a high-level data model, the proprietary EdgeQL query language, and a low-latency network protocol, as well as a suite of tools for day-to-day operations.

EdgeDB is competing with other major players like PlanetScale, Supabase, and Prisma for dominance in the relational database market, which is expected to grow by nearly 40% from 2021 and reach a value of $18.8 billion by 2026. While revenues were initially anticipated by Q4 2022, Selivanov now expects this to happen in late Q1 2023 due to delays in the launch of EdgeDB Cloud.

In addition to delivering a visual constructor for queries and a visualization UI for explaining query performance in the next release, EdgeDB will expand the list of natively supported programming languages. The company's ongoing development is supported by influential angel investors in the software development space, including former GitHub CEO Nat Friedman, Firebase co-founder James Tamplin, and OpenAI co-founder and CTO Greg Brockman.

As the no-code and low-code market continues to grow, services like EdgeDB Cloud could benefit platforms like AppMaster, a robust no-code solution tailored to the creation of backend, web, and mobile applications. By integrating the database-as-a-service model into its offering, AppMaster would be able to provide its customers with a seamless and scalable infrastructure for their custom applications.