TempoDB, a Chicago-based startup specializing in the type of time-series data that comes off sensors and other machines, has raised a $3.2 million series A funding round led by Hyde Park Venture Partners with participation from Chicago Ventures, Divergent Ventures and the company’s existing angel investors. About 18 months since the company launched at TechStars Cloud and GigaOM’s Stacey Higginbotham profiled it, the company’s future is still fuzzy but is starting to shape up.
According to Co-founder and CEO Andrew Cronk, TempoDB’s sweet spot is probably the emerging internet of things and the related sensors and devices kicking out so much timestamped data. Companies in that space are often young, comfortable with cloud computing (TempoDB is a cloud database), and up on next-generation architectures in which application components are often consumed as services and developers aren’t afraid to use multiple databases for multiple needs.
“We’re just a natural fit for the way they run the rest of their business,” Cronk said. “… They have no legacy.”
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Via Chuck Sherwood, Senior Associate, TeleDimensions, Inc