Convex raises $24M to reinvent backends

Convex announced a $24M Series A funding round led by a16z and Spark Capital to scale their backend platform. The company has grown 10x in customer base and revenue over nine months, with customers ranging from hackathon teams to enterprises. The funding will support hiring, developing new features like OLAP support and local-first sync, and building a sustainable, profitable business. Convex plans to enhance their component marketplace, improve their open-source self-hosted edition, and optimize infrastructure costs to ensure long-term viability for customers building on their platform.