Materialize Valuation, Funding & Investors
Materialize is valued at $177M as of November 2020.
Last Materialize valuation
$177M
Series B · Nov 2020
Last Materialize funding round
$60M
Series C · Sep 2021
Cumulative funding Materialize raised
$101M
across 3 funding rounds
Key investors in Materialize
Lightspeed Venture Partners
Kleiner Perkins
Redpoint
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Spencer Kimball
About Materialize
Materialize is a New York-headquartered streaming SQL database enabling developers to query real-time data with low-latency updates. Founded in 2019, the platform incrementally computes query results over changing streams using Rust-based architecture. It integrates with Kafka and Postgres, powering applications at companies like Cloudflare for fraud detection and personalization.
Founded
2019
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$177M (Nov 2020)
Materialize Valuation
Materialize is currently valued at $177M, based on its Series B in November 2020.
The $32M round was led by Kleiner Perkins, with participation from Lightspeed Venture Partners.
Materialize valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2020 | Series B | $177M |
Materialize Funding History
Materialize has raised a total of $101M across 3 funding rounds.
Materialize's first fundraising round was a $9M Series A in March 2019. The most recent completed round was a $60M Series C in September 2021.
Materialize funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2021 | Series C | Redpoint (lead); Kleiner Perkins; Lightspeed Venture Partners | $60M | - | Materialize is a streaming SQL database company founded in 2019 by Arjun Narayan and Frank McSherry, headquartered in New York, providing a platform for real-time data products using standard SQL to query and incrementally update results as data arrives. It builds on open-source frameworks like Timely Dataflow and Differential Dataflow, enabling correct answers in milliseconds for applications in real-time analytics, alerts, notifications, event-driven features, and streaming pipelines. Customers include financial services firm Kepler Cheuvreux, IoT company Density, and SaaS provider Datalot, with a developer community growing to over 980 people by mid-2021. On September 30, 2021, Materialize raised $60 million in a Series C round led by Redpoint Ventures' Logan Bartlett, with participation from Kleiner Perkins (Series B lead) and Lightspeed Venture Partners (Series A lead), bringing total funding to over $100 million. This followed a $32 million Series B in late 2020 and an $8.5 million Series A in 2019. The funds were allocated to expand the engineering team in the U.S. and internationally, accelerate development of the core database, advance the fully managed cloud service beta launched earlier that year, and drive mainstream adoption of its streaming technology amid rising demand for real-time data solutions. The round reflects strong market validation for Materialize's approach to streaming data without specialized skills or custom microservices, positioning it against competitors in the database sector. Investors like Redpoint, with portfolio successes in Snowflake, Cockroach Labs, and Looker, highlighted the team's decade-long expertise. |
| Nov 2020 | Series B | Kleiner Perkins (lead); Lightspeed Venture Partners | $32M | $177M | Materialize is a streaming SQL database company founded in 2019 in New York City, enabling real-time analytics by simplifying streaming data processing with SQL. The platform builds on open-source Timely Dataflow and Differential Dataflow, created by co-founder Frank McSherry, and targets applications in real-time data visualization, financial modeling, SaaS martech, logistics, and ERP. Early team members came from Cockroach Labs, Datadog, Dropbox, Pure Storage, and YouTube. On November 30, 2020, Materialize announced a $40 million funding package, comprising a $32 million Series B led by Kleiner Perkins with Bucky Moore at the helm, and a previously unannounced $8 million Series A led by Lightspeed Venture Partners in 2019. Lightspeed participated in the Series B alongside executives from Cockroach Labs, Datadog, and Rubrik. The post-money valuation for the Series B was $176.89 million. Funds were allocated to grow the engineering team, complete the core database product, launch the fully managed cloud service, prepare for growth, and extend product rollout. The investment reflects strong investor confidence in Materialize's approach to addressing compromises in cost, speed, and skills for real-time data processing. Kleiner Perkins highlighted the team's decade-long study of streaming data challenges and their unique SQL-over-streaming solution as foundational for the next great data platform. At the time, Materialize had early customers across various sectors but no publicly disclosed revenue, ARR, or EBITDA metrics. This Series B built on the Series A to accelerate product development and market entry in the growing data streaming sector, positioning Materialize against traditional databases by enabling continuous SQL queries on streaming data without custom engineering. |
| Mar 2019 | Series A | Lightspeed Venture Partners (lead); Spencer Kimball | $9M | - | Materialize is a streaming SQL database company founded in 2019 that simplifies working with streaming data using SQL for real-time analytics. The company provides a platform to build real-time data products, query and incrementally update results as new data arrives, built on open-source frameworks Timely Dataflow and Differential Dataflow. Early customers used it for real-time data visualization, financial modeling, and SaaS applications in martech, logistics, and enterprise resource planning. In March 2019, Materialize raised an $8.5 million Series A round led by Lightspeed Venture Partners, with Ravi Mhatre leading the investment. Lightspeed participated in subsequent rounds including Series B and Series C. The Series A funding supported initial product development and launch of the fully managed cloud offering. Materialize continued raising capital, reaching over $100 million total by 2021 with a $60 million Series C led by Redpoint Ventures, followed by later rounds including a $40 million Series B led by Kleiner Perkins and a $60 million Series D at $600 million valuation in 2024. |
Who has invested in Materialize?
4 investors have backed Materialize across its funding rounds, including Lightspeed Venture Partners, Kleiner Perkins, Redpoint and Spencer Kimball.
Lead investors include Redpoint, Kleiner Perkins and Lightspeed Venture Partners.
Materialize Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 3 | Lead | Mar 2019 | |
| San Francisco, CA | 2 | Lead | Nov 2020 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialMaterialize Competitors
Materialize competitors include listed companies like Asteria and BTQ Technologies, and private ones like Privasea, Flatfile, Yuanshan AI and Aerospike.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Gothenburg | Private | - | - | $180M | - | |
| Denver, CO | Private | - | - | $185M | - | |
 Beijing | Private | - | - | $158M | - | |
| San Francisco, CA | Private | - | - | $157M | - | |
 Japan | Publicly listed | $22M | $9M | $118M | 4.8x | |
 Canada | Publicly listed | $226K | ($18M) | $395M | 266.9x |
Materialize Public Comps
Materialize is still privately-owned, but its public comps include Datavault AI, Asteria, Airship AI, AgEagle Aerial Sys, Exasol, Celebrus, Dataworks Group, SpectrumOne, Zhongfu Information and BTQ Technologies.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $39M | ($49M) | 4.1x | 1.1x | (3.3x) | (7.9x) | |||
| $22M | $9M | 4.7x | 4.8x | 11.8x | - | |||
| $15M | ($5M) | 3.6x | 3.6x | (10.7x) | (9.9x) | |||
| $13M | ($4M) | 3.6x | - | (10.3x) | - | |||
| $48M | $5M | 0.6x | 0.7x | 6.6x | 7.5x | |||
| $24M | ($1M) | 0.5x | 0.5x | (12.9x) | (23.8x) | |||
| $5M | ($6M) | 2.0x | - | (1.7x) | - | |||
| $358K | ($703K) | 16.4x | - | (8.3x) | - | |||
This data is available for Pro users. Sign up to see all Materialize competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Materialize
| When was Materialize founded? | Materialize was founded in 2019. |
| Where is Materialize headquartered? | Materialize is headquartered in New York City, NY, United States. |
| Is Materialize publicly listed? | No, Materialize is a private, VC-backed company. |
| What is Materialize's valuation? | Materialize was last valued at $177M in its Series B in November 2020. |
| How much funding has Materialize raised? | Materialize has raised $101M across 3 funding rounds. |
| What was Materialize's last funding round? | Materialize's last funding round was a $60M Series C in September 2021, led by Redpoint. |
| Who are Materialize's investors? | Materialize's investors include Lightspeed Venture Partners, Kleiner Perkins, Redpoint and Spencer Kimball. |
| Which companies are comparable to Materialize? | Companies comparable to Materialize include Privasea, Flatfile, Yuanshan AI, Aerospike, Asteria and BTQ Technologies. |
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