https://techcrunch.com/2022/07/26/neon-nabs-30m-to-build-a-scalable-cloud-service-for-postgres-databases/

Neon, a startup providing developers with a serverless option for Postgres databases, today announced that it raised $30 million in a Series A-1 round led by GGV with participation from Khosla Ventures, General Catalyst, Founders Fund and angel investors. In an email interview with TechCrunch, CEO Nikita Shamgunov, who described the tranche as “oversubscribed,” said it would be put toward growing Neon’s engineering team, bootstrapping its go-to-market team and building developer relations with new partnerships and integrations.

Postgres, also known as PostgreSQL, is an open source database management system launched in 1996 as the successor to a database developed at UC Berkeley called Ingres. Postgres has grown in popularity over the years, with a survey from Timescale finding that over half of developers report using Postgres more in 2021 than they did in 2020. Many developers opt for a fully managed platform. But according to Shamgunov, they’re often compromising, because the bulk of the available serverless Postgres database platforms — platforms that abstract away server management — are lacking in key capabilities.