NuoDB, which provides a cloud-based database management system, has raised $14.2 million in new funding led by French-based 3D modelling software developer Dassault Systèmes. Also joining the round are existing investors Canvas Venture Fund (formerly known as Morgenthaler Ventures), Hummer Winblad Venture Partners and Longworth Venture Partners. The Cambridge, Mass.-based company has now raised $26.2 million in total funding since it was launched in 2010.
NuoDB Announces New Round Of Investment
Global Software Leader Dassault Systèmes Joins Morgenthaler Ventures, Hummer Winblad Venture Partners and Longworth Venture Partners
Cambridge, Massachusetts, USA – February 26, 2014 – NuoDB, Inc., the leader in distributed database technology, announced today that it has closed a new round of investment. In addition to existing investors, Dassault Systèmes (Euronext Paris: #13065, DSY.PA), the 3DEXPERIENCE Company, world leader in 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions, has made an investment in the company.
Also participating in the round are NuoDB’s existing investors including Morgenthaler Ventures, Hummer Winblad Venture Partners, and Longworth Venture Partners. This latest round is $14.2 million, bringing the total investment in NuoDB to $26.2 million.
“This investment demonstrates our strong interest and belief in NuoDB’s strategy and technologies for next generation cloud based services,” stated Dominique Florack, Senior Executive Vice President, Products-R&D, Dassault Systèmes. “NuoDB delivers a lot of the features required to address the market needs in terms of usages in the new world of experiences.”
“Dassault Systèmes’ investment in NuoDB will strengthen NuoDB’s ability to deliver unique distributed database software designed for the cloud,” stated Nilanjana Bhowmik, Longworth Venture Partners.
“With Dassault Systèmes’ participation, I look forward to working with the leader in 3D design, PLM and 3DEXPERIENCE software to imagine and deliver the solutions of the future,” stated Barry Morris, NuoDB CEO and Co-Founder.
Everyday businesses face challenges with application deployments, maintaining business continuity and providing outstanding application performance. NuoDB leads the industry with a distributed database management system to solve these problems.
NuoDB provides scale-out performance, continuous availability and geo-distributed data management. It’s a single, logical database easily deployed in multiple locations simultaneously. This unique capability is unavailable in any other SQL product.
Launched in 2010 by industry-renowned database architect Jim Starkey and accomplished software CEO Barry Morris, the company is based in Cambridge, MA.
Used by thousands of developers worldwide, NuoDB’s customers include automotive after-market giant AutoZone, Zombie Studios, DropShip Commerce, and other innovative organizations. NuoDB was one of only nineteen vendors cited on the Gartner Magic Quadrant for Operational DBMS.