Neon is building an open source, serverless PostgreSQL database platform for the cloud era. Founded in 2021 by CEO Nikita Shamgunov, previously the co-founder and CTO of SingleStore, Neon has quickly gained traction, with over 130,000 databases created on its platform to date. Neon's serverless Postgres service separates storage and compute, enabling features like branching, point-in-time recovery, and automatic scaling to zero during inactivity. This architecture allows Neon to deliver significant cost savings to customers.
With over $250 million in funding from top investors like GGV, Khosla Ventures, General Catalyst and Founders Fund, Neon is well positioned to become a leading serverless Postgres provider in the cloud. The company plans to grow its engineering team, invest in developer relations, and eventually expand into the AI space. Neon's hundreds of free tier users provide a natural path to monetization as they exceed usage limits.
Neon faces competition from major cloud providers like AWS Aurora and AlloyDB, as well as other serverless Postgres startups. However, Neon's open source approach, focus on developer experience, and backing from top investors give it a strong foundation to differentiate itself and capture market share in the expanding cloud Postgres space.
2021
Founded
50-100
Employees
Series B
Stage
$250-$500M
Latest Valuation
$100-200M
Total Funding
Jul 07 2023
Last Fundraise
Why is the rating
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