Convex raises $24M to reinvent back ends
10 days ago
- #backend
- #funding
- #startup
- Convex raised $24 million in funding led by a16z and Spark Capital.
- The company plans to use the funds to hire great talent and scale operations.
- Convex's customer base, project count, and revenue grew 10x in nine months.
- Startups on Convex have scaled from hackathons to significant MRR and annual revenues.
- Enterprise customers are on the waitlist, needing scale, compliance, and SLAs.
- Upcoming features include Convex components, OLAP support, and local-first sync solutions.
- Convex aims to build a durable, profitable business worthy of customer trust.
- Addressing risks: developing a self-hosted edition and cost-optimizing infrastructure.
- Convex's mission is to change how software is built on the internet.