Accel Partners, Mayfield Fund and North Bridge Venture Partners joined lead investor Ignition Partners to provide Couchbase a $14 million Series C fundraising investment. Another $1 million has been reserved from strategic partners and customers. The funding will be used to continue product development and international expansion.
NoSQL Leader Couchbase Announces $14 Million Series C Funding
Rapid Growth Attracts Investment Led by Ignition Partners as Demand for Production-Proven NoSQL Database Solutions Accelerates
MOUNTAIN VIEW, CA–) – Couchbase, the leading NoSQL database company, today announced it has secured $14 million in a Series C round of financing led by venture capital firm Ignition Partners with participation from the company’s existing investors Accel Partners, Mayfield Fund, and North Bridge Venture Partners. The company has also reserved an additional $1 million for investment from strategic customers and partners. The new funding will be used to further invest in NoSQL product development, support the adoption and growth of Couchbase in enterprise organizations, and support international expansion.
• On the heels of its inaugural CouchConf developer conference, held July 29 in San Francisco with more than 300 attendees from around the world, Couchbase announced a Series C round of financing, bringing the company’s total funding to $30 million.
• Building upon the merger of Membase and CouchOne in February and theannouncement last week of Couchbase Server 2.0, the company’s first integrated product release, Couchbase will use the new funding to accelerate the delivery of simple, fast and elastic NoSQL database technologies, grow the company in the enterprise market, and expand internationally.
• Couchbase will also dedicate resources to support its rapidly growing community through expanded technical education and community events.
• “Since Couchbase released its first NoSQL database products last October, their business has grown rapidly and they have emerged as the leader in the NoSQL database market,” said Frank Artale, general partner of Ignition Partners. “Couchbase’s document-oriented NoSQL database, proven ability to scale from one to hundreds of nodes, and its unique mobile strategy give the company a clear advantage as market growth accelerates.”
• “The growth of Couchbase’s business, production deployments, and community over a short period of time has been remarkable,” said Kevin Efrusy, general partner of Accel. “The use of NoSQL database technology is quickly expanding beyond internet-based Web 2.0 companies to enterprises. As more companies increasingly become aware of NoSQL success stories, we expect the market to continue to expand rapidly — and Couchbase is uniquely positioned to take advantage of that expansion.”
• “Since the merger that formed Couchbase earlier this year, the adoption and production deployments of Couchbase technology have been very strong and accelerating,” said Bob Wiederhold, CEO of Couchbase. “With the recent release of Couchbase Server 2.0, our groundbreaking NoSQL solution, we expect our business to accelerate even further. The additional financing gives us the ability to invest more aggressively in this rapidly growing market and continue to anticipate and meet the needs of customers who rely on Couchbase NoSQL technology.”