In-memory databases platform MemSQL nowadays introduced that it has elevated a $36 million Sequence C funding round. The round was led by new investors REV and Caffeinated Funds and existing investors Accel Partners, Khosla Ventures, Data Collective, IA Ventures and Initial Round Funds also participated.
MemSQL, which graduated from Y Combinator back in 2011, is plays in the exact same actual-time huge knowledge analysis current market that also contains the likes of HortonWorks, Cloudera, Couchbase, SAP Hana, MongoDB and other people. MemSQL co-founder Eric Frenkiel tells me that this was an oversubscribed round and pointed out that he believes this is unconventional provided the dips in valuation for some of the company’s competitors.
“The Huge Data current market alone is promptly shifting to actual-time processing using principal memory, and software package like Apache Spark, Kafka, and MemSQL are enabling organizations to generate and assess actual-time streams of knowledge,” he claimed. In addition, he also argued that “many Huge Data providers are struggling to meet up with substantial investor expectations with an open up supply model, which also turns out to be very expensive to run.” While MemSQL provides a free edition of its databases, the software package is not open up supply.
Frenkiel tells me the company’s consumers presently consist of Pinterest, Comcast, Akamai and Kellogg’s.
This new round follows the company’s $35 million Sequence B round from 2014 and MemSQL has now elevated a complete of $eighty five million. The firm says it designs to use the new funding to “accelerate progress across the firm together with engineering, income, guidance, and internet marketing.”
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