Aerospike Raises $20 Million in Series C Funding
Aerospike Inc. today announced that it has raised $20 million in Series C venture capital funding. New Enterprise Associates (NEA) led the investment and was joined by Columbus Nova Technology Partners, Alsop Louie Partners, Regis McKenna, and others.
The Series C funding comes as Aerospike continues to cement its dominance as the database of choice in real-time bidding (RTB) and sees a surge in mainstream enterprise demand for a modern database that operates at in-memory speeds and global scale with uncompromising reliability. Increasingly enterprises in financial services, telecommunications, and retail are choosing the Aerospike in-memory NoSQL database to power a new class of multi-channel Web and mobile applications that respond in real time based on what consumers are doing, where they are, and what they want—now.
“Aerospike was built to take advantage of modern processors and flash storage, and today powers many of the top digital marketing platforms that operate at extreme scale,” said Joe Gottlieb, Aerospike CEO. “We are now seeing strong demand from enterprises that must scale their revenue-critical applications with both predictable low latency and strong consistency. This Series C financing by NEA, CNTP, Alsop Louie Partners, and Regis McKenna provides the resources we need to open source Aerospike and take advantage of this broad market opportunity.”
In-Memory Takes Spotlight for Scaling Enterprise Apps
The rapid adoption of Aerospike is part of a broader trend in enterprises adding in-memory databases to their current mix of caches, databases and data warehouses. These companies are turning to in-memory databases to speed cross-channel Web and mobile apps that rely on up-to-the-moment user context and “hot analytics” to deliver a consistent and compelling customer experience.
“Forrester estimates that more than 50 percent of enterprises will be using in-memory databases by 2017,” according to the Forrester TechRadar: Enterprise DBMS, Q1 20141 report published by Forrester Research, Inc. on February 13, 2014. The report2 observes, “Storing and processing customer data in-memory enables upselling and cross-selling new products based on customer likes, dislikes, friend circles, buying patterns, and past orders.”
According to according to the Gartner, Inc. Who’s Who for In-Memory DMBSs3 report published on January 16, 2014, “In-memory DBMS is going beyond hype and is now attracting a wider market interest and greater adoption.” The report4 goes on to explain, “The main business value offered by an IMDBMS is that it enables new business opportunities that would not have been possible previously.”
Series C Funding Accelerates Adoption of Modern Enterprise Infrastructure
Aerospike will use the new investment to expand its developer community and engineering and support teams, as well as its global sales and marketing initiatives. In conjunction with the Series C round of financing, Kittu Kolluri, NEA general partner; Mohsen Moazami, CNTP managing director; and Gilman Louie of Alsop Louie Partners are joining the Aerospike board of directors.
“Aerospike is disruptive database technology, the real-time, mission-critical component of modern enterprise infrastructure,” said Kittu Kolluri, NEA general partner. “Unlike other databases that give up data consistency and reliability for speed or scale, Aerospike has stood true to decades of database fundamentals while operating at wire speed and Internet scale. This, combined with a new open source model, will give enterprises access to a powerful database with which to leapfrog the competition. I am thrilled to work with Aerospike and grow the company to capture this tremendous opportunity.”
“While first-generation NoSQL and Hadoop tackled big data variety and volume, Aerospike delivered on velocity and will keep riding that wave with every advance in processor, storage and networking technology,” said Mohsen Moazami, CNTP managing director. “I am excited to take this trailblazing company to the next stage of what is already a momentous journey.”
“Since we seeded Aerospike in 2011, we have watched the company mature while the market started to become visible to everyone,” said Gilman Louie, of Alsop Louie Partners. “Managing data in real time enables the next generation of applications that sense and respond intelligently to what is happening.”
“Marketing is not a function; it is a new way of doing business, a modern enterprise infrastructure designed to systematically sense and respectfully serve individual customers, no matter where they show up, in store, on mobile devices, or across the Internet,” said Regis McKenna, legendary marketing guru. “Aerospike’s game-changing technology will give enterprises a new opportunity to adapt, innovate and compete."
