Yugabyte Secures $48M in Funding and Sets the Stage for Global Growth
We are excited to announce that Yugabyte has closed a $48M funding round led by Lightspeed Venture Partners with additional participation by Greenspring Associates, Dell Technologies Capital, Wipro Ventures, and 8VC. This comes on the heels of a $30M raise announced in June 2020, bringing the total funding currently raised to $103M. This additional funding will be used to accelerate the launch of the fully managed Yugabyte Cloud offering in addition to growing the R&D, sales, and customer support functions. The funding will also be used to expand into new markets like EMEA and APAC where there has been strong demand for the open source YugabyteDB distributed SQL database and related products and services. Growing our presence in these regions will allow us to better serve customers, partners, and the YugabyteDB community around the globe. We are also proud to welcome Hudson River Trading as a Yugabyte customer!
In the last year, the COVID pandemic has pushed online interactions – work and school, shopping, and many others – to record highs. As more users go online and stay online, it also means more data is being generated and accessed as a result. These applications and the data they rely on have to be always on, delivered with low latencies, and geo-distributed. And with companies accelerating their digital transformation initiatives, technologies that help them accelerate, like YugabyteDB, are in high demand.
YugabyteDB, the open source, high performance distributed SQL database, is seeing rapid adoption by both community developers and enterprises alike. YugabyteDB’s footprint continues to grow at a rapid pace with community members having deployed +600,000 clusters to date. 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. We are honored to welcome so many enthusiastic members to the open source YugabyteDB community to get involved in distributed SQL and push the boundaries of cloud native RDBMS forward.
Why such strong demand for distributed SQL databases now, in this time of digital disruption? Key drivers of YugabyteDB’s rapid adoption among enterprises, SMBs, and startups include:
- permissive Apache 2.0 open source licensing
- the most complete set of PostgreSQL-compatible features
- support for multi-cloud deployments out-of-the-box
- the ability to take full advantage of the elasticity of the cloud
- increasing adoption of cloud native application frameworks like Spring and GraphQL that Yugabyte works well with
As you can imagine, building a cloud native SQL database that combines the horizontal scalability of NoSQL systems with the ACID guarantees of a SQL system is no simple task. It is one that takes strong engineering skills and of course time. Karthik Ranganathan, CTO at YugabyteDB offers an in depth, technical walk through of the project’s key milestones in this post, “Reimagining the RDBMS for the Cloud”.
We are continuing to see strong demand for the fully managed cloud offering of the open source YugabyteDB database. The cloud service automates operational tasks such as cluster deployment, scaling, software upgrades, and security updates, allowing customers to focus on building business-critical applications and services. With the new round of funding, we’ll continue to accelerate our investments in this offering.
We continue to add Fortune 100 customers in the ecommerce, financial services, and telecommunications verticals where geographic data distribution, transactional capabilities, and horizontal scalability are critical for systems of record. We are also delighted that Hudson River Trading, a quantitative trading firm, has recently become a Yugabyte customer, joining Kroger, Narvar, Turvo, Manetu, and Xignite, and more. See YugabyteDB’s success stories to learn more about a few of our customers.
We have also begun to aggressively expand our engineering, DevOps, and support staff in India, Russia, and Canada, along with sales teams in EMEA and APAC to better serve customers, partners, and the broader YugabyteDB community in those regions. To this effect, we recently acquired India-based, Falarica.io to supercharge our development and growth efforts in APAC. Falarica specializes in delivering hybrid and multi-cloud big data solutions on Kubernetes to enterprise clients. We’d like to extend a very warm welcome to the team at Falarica who are joining us on our mission of building the default distributed SQL database for cloud native applications in a multi-cloud world.
To support our global expansion efforts, we are hiring across a variety of departments and locations, and plan to double our headcount in the next year. If you’re interested in joining us on our ambitious mission, please check out our job openings and spread the word with amazing people who would be great additions to the team.
Visit the Yugabyte Careers page to learn more about open positions in your region. All departments are hiring!
We recently turned 5 years old as a company, and looking back we are truly proud of how far we have come and what we’ve been able to accomplish in that time. We couldn’t have done it without amazing customers, partners, and community members working alongside us on the journey so far. To everyone who played a role in helping us achieve the milestones we’re so honored to be able to share today, we send you our sincerest thanks and gratitude. We’re looking forward to collaborating with you all on what’s yet to come!
Want to learn more? Join us in Yugabyte Community Slack so we can start the conversation!