Timescale is a new tech startup. The business provides an open-source time-series database that is designed to provide rapid ingestion of complicated queries. It is one of the most innovative companies of its kind, promising to deliver far faster processing of information than ever before for browsers looking for complex datasets. Here are 20 things you didn't know about Timescale to help you become better acquainted with its purpose and potential.
1. Timescale is classified under four industries
According to Crunchbase, Timescale is a diverse tech firm that maintains a focus on providing its clients with information services. It falls under four unique classifications because of the complexity of the technology that is used to power its platform. In addition to being categorized as an information services company, it is also under the computer, database, and software headings.
2. Timescale is only five years old
Timescale is a tech startup that hasn't been around for very long. It was founded in 2015 by co-founders Michael Freedman and Ajay Kulkarni. The headquarters for Timescale is located in New York City, New York, with a globally distributed team. Although the company is also known as iobeam, the legal name is Timescale, Inc.
3. Timescale is led by a team of seven executives
Seven executives are leading the Timescale company forward. Ajay Kulkarni is a co-founder and chief executive officer of the company, standing at the helm of the operation. He is joined by Michael Freedman, co-founder, and chief technology officer. Andrew Staller is the director of sales. Alex Thinath is in charge of building. John McAfee is the vice president of customer care. Lacey Butler is the director of growth and David Kohn Sr. is the solutions architect and software engineer.
4. The board of directors is the same size as the executive team
Interestingly, Timescale has as many advisors on its board of directors as it does executive staff members on its leadership team. There is no shortage of professional advisement. Satish Dharmaraj joined the board as a member in May of 2021. He sits on one other advisory team. Peter Fenton is a general partner at Benchmark. He currently sits on 21 different board and advisory committees. Ajay Kulkarni and Michael Freedman, both co-founders of Timescale sit on the board. Michael Mullany joined the board as an observer in January of 2019. He is a general partner at Icon Ventures and serves on five advisory boards. Forest Baskett is a general partner at New Enterprise Associates who maintains a total of 28 board and advisor roles.
5. Timescale has four registered trademarks
Timescale has registered four trademarks with some in the scientific and technological services category. What this means is that at least some of the technology that is used to provide services for its customers is unique and cannot be copied by other competitors in the industry. The company is actively using a total of fifty-five technologies to power its website. These technologies are distributed across thirty-one technology products. Although the end-users experience a seamless and smooth overall browsing and use experience, there is a complex array of technologies powering the site.
6. Timescale's monthly visitor tally is rising
Timescale's website has an average of 151,107 unique visitors per month, according to its statistical data. What's even more impressive is that the monthly growth rate for the site is at 6.48 percent. The numbers are from four different countries throughout the world. Twenty-eight percent of the visitors are from the United States. This is followed by sixteen percent originating in India, eight percent from the Russian Federation, and seven percent of the visitors are from the United Kingdom.
7. Timescale is a venture capital-backed enterprise
Timescale has participated in 5 rounds of venture capital funding. The most recent round of Series B funding closed on May 5, 2021, raising a total of $71.1 million. The most recent valuation of this company was made in January of 2019, where it was estimated to be between $50 to $100 million.
8. Timescale has 14 investors behind it
Investor confidence in Timescale is high. The startup has 4 lead investors and a total of 14 investors providing funding for its fundraising efforts. The lead investors include Icon Ventures, Benchmark, New Enterprise Associates, and Redpoint. These investors have been joined by Two Sigma Ventures and eight others who at this point have remained anonymous.
9. Timescale is adding seven new positions
According to LinkedIn, Timescale is currently recruiting candidates for seven senior communications managers. These are remote positions that are posted for the Portland, Oregon area, Atlanta, Georgia, Seattle, Washington, San Francisco Bay area, California, New York, New York, and one position for a product manager in Berlin, Germany. Although the company is growing slowly and this isn't a large number of job openings, it is the equivalent number to the executive leadership team.
10. Timescale lets users measure data
According to Techcrunch, the special service that makes Timescale unique is its platform that allows users to measure data across a time dimension. This is a technology that allows decision-makers within organizations to help by providing a category-defining relational database for time series. It's useful for predicting what would happen when inevitable changes take place.
11. The free version of Timescale is all-inclusive
Another quality that sets Timescale apart from similar service providers is that it offers an open-source version. Instead of selling an enterprise version, all of the functionality of the full product is available in the free version. The company started out selling the enterprise version in the beginning, but within the last year, they changed their tactics. This left the dilemma of how to make the company pay. Timescale is earning its revenues through the cloud to bring in revenue. In short, they've put all their eggs in one basket and have placed their bet on the cloud. The decision-makers hold the belief that the future of database adoption is in the cloud structure and this has allowed them to make all of the enterprise features available to users for free. They also offer a managed service that is not free for those who prefer assistance.
12. The Timescale database is huge but risky
So far, Timescale has been able to attract its users with the lure of more than 2 million monthly active databases. The leaders of the company are gambling that in time, all of the companies will eventually convert to the cloud service. We're all keeping our fingers crossed for them and hoping for the same.
13. Timescale is a small business with a large reach
We also learned that there are 60 employees in the Timescale workforce. These staff members are distributed throughout 20 different countries in the world. There is only one region where Timescale is not yet represented, and that is Antarctica. It is a remote organization that employs a team of remote workers who set up their own home offices. It's an honor-based system. Although Timescale is headquartered in New York City, it is truly a global company with a worldwide reach. The CEO shared that Timescale maintains a focus on diversity and inclusion within its US operations and that includes racial and gender diversity.
14. The remote basis of Timescale is not related to the pandemic
Although it's easy to assume that the remote worker profile is due to the worldwide pandemic, this isn't the reason why Timescale hires remote workers. Even if there had not been a pandemic, the workers would have the same kind of work environment and be hired to work remotely. The CEO of Timescale believes that being remote-first has been good for the company. It has saved a lot in office space rentals and the overhead that comes along with maintaining brick and mortar office locations. While this type of structure does not work well for all types of businesses it has been working ideally for Timescale.
15. Timescale has the potential to be a disruptor in the tech industry
According to Timescale, the geniuses who created the TimescaleDB platform have been able to achieve something that competitors have not. The performance of Timescale is between 10 to 100 times faster for receiving returns of queries when compared with Mongo DB, Influx DB, and Postgre SQL. They've patented the technology so it cannot be imitated by others. It allows for native optimizations of time series.
16. It's like Postgre SQL on steroids
Users can confidently use the same PostgreSQL that they have grown accustomed to but there are changes. They're all positive ones. The platform allows full SQL within a massive ecosystem with failproof solid reliability. Timescale refers to this as a "Supercharged Postgre SQL."
17. The sky is the limit with Timescale
Another feature that makes TimescaleDB so impressive is that it allows for writers to let cardinality go by the wayside. Users can write millions of data points per second per node and horizontally scale to petabytes. IT pros can simplify their stacks and ask complex questions for building applications that are more powerful. The platform provides them with worry-free operations. Other features include a fully managed platform if you opt to have them run Timescale DB on Azure, GCP, or AWS with access to top-rated support as well as lower costs with compression rates between 94 to 97 percent for the best possible performance.
18. Timescale is a privately owned company
You won't find Timescale shares offered on the public stock exchanges, at least not any time shortly. This is a business that is privately held and so far there is no indication that the owners plan to file for an IPO. The venture capital funding that Timescale receives is ample for meeting its current operational needs and plans for growth and expansion. Timescale is taking things slow and easy, and making even strides in its ultimate growth strategy. It has solid backing and is making good progress in its growth and global outreach efforts. Although it's not one of the larger businesses that have reached unicorn status, Timescale is still a company to keep your eye on as confidence in its future profitability is high within the venture capital investors' circles.
19. Timescale is geared for the cloud advantage
Timescale's marketing endeavors point to the cloud as the future of everything in the years to come. They're betting on companies that are cloud-first becoming cloud-only soon. Only time will tell if they've made the right decisions, but from the current trend, their observations are right on the money. If it does happen, Timescale is in the perfect position to cash in. Another thing we liked about their managed option that does cost a small fee is that it is so highly affordable. Prices for managed services start at just $24.99 per month. This allows you to launch your first database within just a few seconds. It's hard to beat the speed and massive reach that Timescale has to offer. It's one of the biggest contenders for the first place position within the industry. Now it's just a matter of a few things turning out as predicted.
20. Timescale offers a special webinar as an educational tool
If you're still wondering what Timescale is and how it can work for your business, a special webinar, featuring Developer Advocate at Timescale, Avthar Sewrathan explains what it is and how it can help. He explains what makes time-series data more beneficial than other types of data, along with how it can be best used in projects and systems. It can be used to answer simple or complicated questions. Experts are available during the webinar to answer any questions that are generated. These are sessions that are recorded for registrants who miss out on the webinar. It's one of the best ways to maximize the best possible uses of the system.
Written by Allen Lee
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