DataStax, the provider of the open source database management system Apache Cassandra, has raised a $25 million Series C round of funding. Meritech Capital Partners led the round, with participation from existing investors Lightspeed Venture Partners and Crosslink Capital. The company has now raised $38.7 million in fudning since 2010.
DataStax Raises $25 Million in Third Round of Funding
Cassandra™-Based Big Data Platform Poised to Drive Massive Growth in the Enterprise
SAN MATEO, Calif. – October 1, 2012 – DataStax, provider of the Big Data platform that powers mission-critical enterprise applications, today announced the completion of a $25 million C round of funding led by Meritech Capital Partners, with participation from existing investors Lightspeed Venture Partners and Crosslink Capital. This latest round of capital comes in the wake of explosive demand for DataStax, with company bookings increasing by over 400 percent in 2012. DataStax will use the funds to further enhance its Big Data platform and increase the value for current customers while driving global customer acquisition.
Designed for Big Data
The increasing usage of Big Data has led enterprises to rethink how they manage data. IT industry analysts agree that traditional relational databases cannot handle the data velocity, volume, geographical distribution, and other common requirements of enterprise 2.0 applications. NoSQL databases, which can cost-effectively handle Big Data challenges, are becoming a key asset for these types of mission-critical business applications.
DataStax provides a Big Data platform that powers the enterprise through through Apache Cassandra™, the massively scalable NoSQL database. Using best-of-breed Cassandra, Solr™ and Hadoop™ technologies, DataStax enables continuous availability, deep analytics, real-time search and high-velocity throughput. In today’s business environment, where simultaneous demands are placed on the same data, DataStax delivers the massive scalability needed to ensure continuous high performance. Simple to operate and built with architectural flexibility in mind, DataStax delivers speed and reliability in a single Big Data platform.
A Focus on Customers
Meritech Capital Partners, a late-stage investment specialist with a portfolio that includes Facebook, Cloudera, Box.net, GreenPlum and Netezza, approached DataStax with funding well before the platform provider planned to explore adding additional investors for its C round. “There is a clear and rapidly growing demand in the marketplace for DataStax’s Big Data platform,” said Paul Madera, managing director of Meritech. “We made a heavy commitment to DataStax because the company’s growth in the last six months has been incredible, and they are poised to provide real value to enterprise customers for a long time to come. Like our other portfolio companies, DataStax is one of the best late-stage companies in tech and a key player in the market.”
“Meritech’s dedication to us is one of many signals to the marketplace that we are changing the way enterprises build their mission-critical, real-time applications,” said Billy Bosworth, CEO of DataStax. “This latest round of funding enables us to further grow our customer base, and to continue providing the leading Big Data platform for businesses whose applications require massive scalability and continuous availability.”
Lightspeed Venture Partners is focused on early and expansion stage investments in the consumer, enterprise technology and cleantech markets. Over the last ten years, Lightspeed has backed over 200 leading companies, many of which have become leaders in their respective industries, including Nicira (acquired by VMware), XtremIO (acquired by EMC), Fusion-io (FIO), Pliant Technology (acquired by SanDisk), Solazyme (SZYM), Riverbed Technology (RVBD), and Playdom (acquired by Disney).
Crosslink Capital, the investor behind Pandora (NYSE: P) and Cirrus Logic, also funded the latest DataStax round. Crosslink Capital, which specializes in stage-independent venture capital and growth equity, has funded more than 100 leading companies, including Ancestry.com (NASDAQ: ACOM), Equinix (NASDAQ: EQIX), Omniture (acquired by Adobe Systems), and BleacherReport (acquired by Time Warner).
DataStax powers the apps that power the enterprise through Apache Cassandra™, the massively scalable, NoSQL database. Today’s enterprises place simultaneous demands on the same data, such as continuous availability, high-velocity throughput, real-time search and deep analytics. DataStax solves this challenge by integrating the best-of-breed technologies Apache Cassandra™, Apache Solr™, and Apache Hadoop™. DataStax is a single Big Data platform that delivers massive scalability with operational simplicity and architectural flexibility, without diminishing performance. Top companies such as Netflix, Pearson Education, and Constant Contact rely on DataStax every day. Based in San Mateo, Calif., DataStax is backed by industry-leading investors: Lightspeed Venture Partners, Crosslink Capital and Meritech Capital Partners. For more information, visit http://www.datastax.com/ and follow @DataStax.