VoltDB Closes $8 Million Series B Round For Big Data and IoT
Funding bolsters VoltDB's ability to support next-generation "smart" applications that tap Big Data and the Internet of Things
By: Liz McMillan
Mar. 18, 2014 09:30 AM
VoltDB announced that it has closed $8 million in Series B funding. The round was led by a Silicon Valley luminary with participation from two additional independent investors as well as existing stakeholders Sigma Partners and Kepha Partners. This funding represents the first in a succession of strategic developments to be announced which bolster VoltDB's ability to support next-generation "smart" applications that tap Big Data and the Internet of Things.
With more than 400 commercial customers and a highly differentiated product proven in mission critical applications, VoltDB will use the funds to accelerate sales and marketing as well as global expansion. VoltDB's "no compromise" design gives customers the world's most powerful platform with unparalleled speed and capacity to process, analyze and make decisions on massive amounts of incoming data in real-time (milliseconds). VoltDB's customers use the company's unique in-memory architecture to power everything from mission critical enterprise applications, transportation systems and electricity management, to mobile and advertising networks.
"Organizations everywhere are looking to drive competitive business value from new Big Data applications that can consume, analyze and act on massive amounts of dynamic data in real-time," said VoltDB CEO Bruce Reading. "This is exactly what VoltDB was built for – and we are seeing demand in every corner of the world. This new round of funding will enable us to expand to serve this growing customer base."
Founded in 2009 by Professor Michael Stonebraker of MIT, often called the father of modern relational database technology, VoltDB represents the culmination of 40 years of trial and error in developing database architecture. Built from the ground up to combine breakthrough speed and real-time, in-memory analytics in a single database system, VoltDB allows organizations to derive the maximum business value of every single piece of data the moment it arrives.
"The database industry has fundamentally changed in recent years, from one dominated by large 'one size fits all' database vendors, to a much more diffuse market where different databases are used for different classes of applications," said Sigma Partners Managing Director, John Mandile. "VoltDB is an extremely strong player in 'smart' applications requiring massive throughput, real-time analytics and transactional consistency."
"VoltDB's customers are the innovators in trends like the Internet-of-Things, micro-personalization and smart infrastructure," said Kepha Partners Founder and Partner, Jo Tango. "This market is evolving so quickly, though, that these innovators will soon be the mainstream. We believe VoltDB will be a major beneficiary of this trend."
The world's fastest applications run on VoltDB.
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