|By Business Wire
|June 26, 2014 06:00 AM EDT
Inc., provider of the most complete NoSQL database, today announced
a $60 Million series E round of financing. The round was led by two new
investors, WestSummit and Accel Growth Fund and brings the total amount
of Couchbase funding to $115 Million. All existing venture capital
investors also participated in this round of financing.
The new investment is further evidence of the growth of the global big
data market which is segmented into two halves: operational data
management, largely led by NoSQL vendors and analytical data processing,
led by Hadoop vendors. The operational data management segment of big
data is starting to accelerate at a much faster pace, driven by large
enterprise adoption of NoSQL.
“Global adoption of NoSQL for operational big data initiatives is just
beginning. Business have spent years trying to get Oracle to efficiently
scale, or looked to MongoDB to experiment with small projects on non
relational infrastructures,” said Bob Wiederhold, CEO Couchbase. “But,
as these companies become more dependent on applications that simply
cannot perform or scale on MongoDB or Oracle, they are turning to
Couchbase. That is because Couchbase Server is designed and built to
deliver the scale and performance needed by next generation
Couchbase Uniquely Positioned to Win Operational Big Data Market Share
IDC predicts that the market for big data will reach $16.1 billion in
2014, growing 6 times faster than the overall IT market, with software
accounting for 24% of the big data market. While Hadoop drives the
analytical segment of big data, NoSQL is the catalyst for operational
data management. Rapid acceleration in the growth of the NoSQL market is
driven by multiple factors, the biggest being enterprise adoption of
next generation architectures that support big data initiatives.
“Accel is interested in finding the leaders for the big data market,”
said Kevin Efrusy, Partner at Accel Partners. “Couchbase is in a great
position to disrupt the database market. It is building momentum with
Oracle replacements and demonstrating continued competitive success over
other NoSQL vendors.”
Couchbase is uniquely positioned to become the de facto general purpose
NoSQL database of choice. Its flagship product, Couchbase Server, is
architected to consolidate multiple layers of functionality delivering
the simplicity of a key value database, the flexibility of a document
database and the read speed of an in-memory database. This layer
consolidation means Couchbase Server is singularly able to support
multiple big-data use cases, making it an ideal choice for enterprises
re-platforming for their next generation projects on a single
infrastructure that is future-proof and cost effective.
Evolving Mobile Revolution
Support for mobile applications is at the top of every IT agenda, and
these mobile initiatives are evolving to include new requirements. A
typical mobile data strategy even a year ago, assumed that data would be
kept in the cloud. But now there is a shift happening at an accelerating
pace, where data needs to be always available. That creates a
requirement for storing big data on a device, machine, wearable, etc.
and being able to sync it with data stored in the cloud, or on other
With its May
launch of Couchbase Mobile, Couchbase leapfrogged the competition by
delivering an end-to-end operational big data management platform that
supports both cloud and edge based computing. With Couchbase Mobile,
enterprises have the ability to manage data via the world’s first and
only NoSQL mobile database, and if needed, sync data to the cloud
through Couchbase Sync Gateway. With its first-to-market NoSQL mobile
database, Couchbase is positioned to take significant share of the huge
Investing in Growth
Couchbase has experienced incredible growth over the past year. Sales
have increased 400%, the company has doubled its employee base, added 8
offices around the world and won strategic deals at large enterprise
accounts. Couchbase will use this new round of funding to further its
lead in innovation, as well as enabling global enterprise adoption of
NoSQL and big data initiatives. This will include continued product
investments, expanded regional technical support operations and scaling
its marketing and sales teams.
Both investment funds are new to supporting Couchbase. Accel Growth III
is a new $1 billion fund focused on investing in later stage companies
that are driving important new trends in technology adoption. WestSummit
is funded by its partners located across the US and China. Leveraging
its strong global network, it focuses on helping build growth stage
technology companies into global market leaders. Raymond Yang,
co-founder and managing partner at WestSummit will join the Couchbase
Board of Directors.
“Our investment in Couchbase is testament to our belief that
organizations around the world are moving to next generation
architectures,” said Raymond Yang, Co-Founder and Managing Partner at
WestSummit. “China, and broader Asia, represent a huge market, and we
believe Couchbase is well positioned to take leading share of
this opportunity. As an investor and board member, I’m looking forward
to supporting their APAC growth.”
Couchbase provides the world’s most complete, most scalable and best
performing NoSQL database. Couchbase Server is designed from a simple
yet bold vision: build the first and best, general-purpose NoSQL
database. That goal has resulted in an industry leading solution that
includes a shared nothing architecture, a single node-type, a built in
caching layer, true auto-sharding and the world’s first NoSQL mobile
offering: Couchbase Mobile, a complete NoSQL mobile solution comprised
of Couchbase Server, Couchbase Sync Gateway and Couchbase Lite.
Couchbase Server and all Couchbase Mobile products are open source
projects. Couchbase counts many of the worlds biggest brands as its
customers, including Amadeus, Bally’s, Beats Music, Cisco, Comcast,
Concur, Disney, eBay / PayPal, Neiman Marcus, Orbitz, Rakuten / Viber,
Sky, Tencent and Verizon, as well as hundreds of other household names
worldwide. Couchbase is headquartered in Silicon Valley, and has raised
$115 million in funding from Accel Partners, Adams Street Partners,
Ignition Partners, Mayfield Fund, North Bridge Venture Partners and
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20140626005491/en/
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