Graph analytics firm TigerGraph announced it has raised US$105 million in a series C funding round led by Tiger Global, bringing the total capital the company has raised to date to over US$170 million.
TigerGraph is a platform that uses analytics and machine learning to provide services in areas such as fraud detection, anti-money laundering, entity resolution, cybersecurity, and network analysis, among others.
The company claims it has more than doubled its revenues and customers over the past year as companies accelerated their digital transformation to find new insights about their customers, products, services, and suppliers during the pandemic.
With the new funds, the company will further develop its products to support its customers, including the launch of its TigerGraph Cloud on the Google Cloud Platform, which will be available in March this year. The firm will also increase multiregion support on Amazon Web Services and Microsoft Azure.
Based in the US, TigerGraph already has a presence in China and is opening offices in Singapore and Indonesia. It is also expanding its global reach with local support in Asia and Australia, as well as hiring in the Americas, Asia Pacific, Europe, the Middle East, and Africa.
Additionally, Joseph Lee, an enterprise software sales and business veteran, will serve as vice president of Asia Pacific and Japan at TigerGraph and lead its initiatives in Asia, said TigerGraph chief operating officer Todd Blaschka.