Yugabyte, a Sunnyvale, CA-based open source distributed SQL database provider, raised $30m in Series B funding round.
The round, which brought total funding to $55mm, was led by 8VC, with participation from strategic investor Wipro Ventures and existing investors Lightspeed Venture Partners and Dell Technologies Capital. In conjunction with the funding, Scott Yara, co-founder and former SVP of Products of Pivotal Software, joined Yugabyte’s board of directors.
The company intends to use the funds to expand its open source project and drive broader enterprise adoption of its commercial products.
Led by Kannan Muthukkaruppan, co-founder and President, Yugabyte is the company behind YugabyteDB, the open source, high-performance distributed SQL database for building global, internet-scale applications. It provides Yugabyte Platform, a self-managed private database-as-a-service offering available on any public, private, or hybrid cloud or Kubernetes infrastructure and Yugabyte Cloud, a fully-managed database service currently available on AWS and Google Cloud. The company’s high performance, PostgreSQL compatibility and cloud-neutral abilities are essential features for companies focused on handling business-critical transactions at a massive, global scale. As a result, enterprises in Financial Services, Retail and Telecommunications verticals have already adopted it. The company’s customer base includes Kroger, Narvar, Plume, Admiral and Xignite, among others.
The funding follows YugabyteDB 2.1, a major update that included expansion of geo-distributed deployment options, strengthening of enterprise security capabilities and a 10x increase in performance.
FinSMEs
09/06/2020