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Timescale, a company that commercializes the open source time-series PostgreSQL database TimescaleDB, has raised $40 million in a series B round of funding.

A time-series database (TSDB) refers to a system that stores and retrieves data points with associated timestamps, helping relate and align each of the data points with each other. This could involve a weather or stock price application that charts how the respective data changes over time, or even a self-driving car that has to collect data related to changes in the environment, such as weather conditions or other variables. A TSDB essentially lets developers and businesses store large swathes of timestamped data to access and manipulate as required, and it is used by just about every industry and discipline from financial markets to machine learning.

Founded out of New York in 2015, Timescale is the main developer behind TimescaleDB, a TSDB it offers under an open source license, though with the notable caveat that other public cloud companies can’t offer TimescaleDB-as-a-service. On top of that, Timescale commercializes TimescaleDB via a fully managed and hosted service through AWS, Azure, or Google Cloud.

TimescaleDB claims a number of notable users, including Cisco, Walmart, Comcast, IBM, Samsung, and Maersk. Since its official launch four years ago, it claims to have amassed more than 2 million active databases.

Timescale had previously raised around $31 million, including a $15 million round two years ago. With its latest cash injection, led by Redpoint Ventures, the company said it plans to double down on its commercial product development. This will include new features to “easily manage petabyte-scale deployments,” as well as a new observability platform for developers.

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