Falarica.io acquired, headcount to be doubled in 2021
Following on to its recently acquisition of India-based Falarica.io to accelerate its development and recruiting efforts in the APAC region, California’s Yugabyte is building out its engineering, DevOps and support staff in India, Russia and Canada.
The company has raised US$48 million and will put in ‘turbo-charge’ efforts to expand sales teams in EMEA and APAC because of strong demand for its open source distributed SQL database, and related products and services. To support its aggressive expansion plans, the headcount will be doubled in 2021, said Yugabyte in a release on 3 Mar 2021.
With the new infusion of capital, Enterprise adoption of YugabyteDB continues to accelerate, particularly in the e-commerce, financial services and telecommunications verticals where geographic data distribution, transactional capabilities and horizontal scalability are critical for systems of record. Yugabyte customers include Hudson River Trading, Kroger, Narvar, Turvo, Manetu and Xignite, among others.
“Today’s business environment demands flexibility and elasticity from database solutions, and distributed SQL is now critical for any organization where developer productivity and application uptime are top priorities. YugabyteDB makes something as fundamental and feature rich as PostgreSQL truly cloud native, resilient, elastic, and distributed,” said Kannan Muthukkaruppan, Co-Founder and President, Yugabyte.
“With companies of all kinds accelerating their digital transformation initiatives, technologies that help them accelerate, like YugabyteDB, are in high demand. This new round of funding will position Yugabyte to meet this increased enterprise demand and power our global expansion into key markets,” said Muthukkaruppan.
Over the past year, organizations have transitioned more work and non-work activities to the cloud, increasing the demand for cloud-native relational database management systems to ensure data is always available and can be accessed at the lowest possible latency. Enterprises and startups in need of increased flexibility turn to YugabyteDB for its PostgreSQL-compatibility and out-of-the-box support for multi-cloud deployments, enabling them to experience the full benefits of true cloud elasticity.
“Several different trends are intersecting in the enterprise—the exponential growth of data, the acceleration of digital transformation, and the move to cloud—forcing organizations to rethink how they manage their data and creating an opportunity for organizations like Yugabyte,” said Ravi Mhatre, Partner at Lightspeed Venture Partners.
“With its unique combination of advanced RDBMS features, high availability, horizontal scalability, and ability to distribute data anywhere in the world, YugabyteDB is already the beating heart of many mission-critical global applications and will soon underpin many more. We’re excited for this next stage of the company’s growth,” said Mhatre
The funding will also be used to further accelerate enterprise adoption of Yugabyte’s commercial products. Yugabyte Platform, a self-managed private database-as-a-service offering available on any public, private, or hybrid cloud or Kubernetes infrastructure and Yugabyte Cloud, a fully-managed database service currently available on AWS and Google Cloud, have seen broad adoption in the past 12 months. Yugabyte also recently announced YugabyteDB 2.4, a major update including hardened enterprise-grade security features, enhanced multi-region deployment capabilities and significant performance improvements.
Already a leader in open source distributed SQL databases, Yugabyte secured US$48 million from funding round led by Lightspeed Venture Partners with additional participation by Greenspring Associates, Dell Technologies Capital, Wipro Ventures and 8VC. Coming on the heels of a US$30 million capital raise announced in June 2020, the round brings Yugabyte’s total funding to US$103 million.
Yugabyte is true open source with its permissive Apache 2.0 license, a position that has helped win customers and drive strong open source community growth. Yugabyte’s open source community members have now deployed more 600,000 clusters to-date and the project’s contributor count is now over 170, with +2,600 community Slack members and over 300 certifications granted in the last 90 days. #technology #data #investment #banks #funds /fiinews.com
