InterWest Partners, along with existing investor Mohr Davidow Ventures, led a $15 million Series B funding round in Splice Machine, developer of a SQL-compliant database for Big Data applications. Splice Machine received its Series A funding from Mohr Davidow Ventures in October 2012.
Splice Machine, provider of the only transactional real-time SQL-on-Hadoop database for Big Data applications, today announced the closing of its $15M Series B round of funding. The investment is led by InterWest Partners, along with returning Series A investor Mohr Davidow Ventures (MDV).
The investment will enable the Company to accelerate its product development and expand its sales and marketing team in preparation for its upcoming public beta offering in Q1 2014. With its real-time, transactional architecture, Splice Machine moves Hadoop beyond batch processing to power real-time operational and analytical applications.
“Unlike any other SQL-on-Hadoop database, only Splice Machine supports real-time, ACID-compliant updates for both operational and analytical applications on standard Hadoop distributions,” said Bruce Cleveland, General Partner, InterWest Partners. “With its lockless transactional architecture, Splice Machine fills a critical gap in the SQL-on-Hadoop market.”
Splice Machine received its first round of funding from MDV in October 2012. Since then, the Company has tripled its staff, engaged with over 10 charter customers, received multiple accolades, and delivered a limited product release where more than 50 enterprises validated use cases, tested SQL coverage and benchmarked performance.
Splice Machine delivers significant increases in query performance and steep reductions in hardware and software costs for its charter customers. For example, initial results against Oracle databases have shown a 10x increase in price/performance by decreasing response times by 30-50% on significantly less expensive hardware.
“For companies that want to leverage the cost and scaling advantages of Hadoop, they can finally replace traditional relational databases like MySQL, PostgreSQL, and Oracle with Splice Machine because it is a real RDBMS on Hadoop,” said Monte Zweben, co-founder and CEO, Splice Machine. “We’re confident that this next round of funding will enable us to revolutionize the Hadoop marketplace by powering real-time operational and analytical applications.”
“We are excited to double down on our Splice Machine investment,” said Bill Ericson, General Partner, MDV. “Now companies that are experimenting with Hadoop can gain significant value from those deployments. We are impressed with the company’s progress since its Series A funding, as it has built a seasoned team, a first-of-its-kind product, and a strong voice in the market.”
Splice Machine is the only full-featured SQL database on Hadoop with real-time updates and ACID transactions. It provides application developers and database architects the best of Big Data: the scalability of Hadoop and HBase, the ubiquity of SQL, and the transactional integrity of an RDBMS.
For more information on Splice Machine, visit http://www.splicemachine.com/.
About Splice Machine
Splice Machine is the only transactional SQL-on-Hadoop database for real-time Big Data applications. Splice Machine provides all the benefits of NoSQL databases, such as auto-sharding, scalability, fault tolerance and high availability, while retaining SQL – the industry standard. It optimizes complex queries to power real-time OLTP and OLAP apps at scale without rewriting existing SQL-based apps and BI tool integrations.