NuoDB Secures Additional $17M in Financing to Drive Adoption of Avant-Garde Database
- Wall Street ekes out gains to close languid week
- 'Faster than Porsche but Safer than Volvo': Tesla (TSLA) Begins Model S Plaid Deliveries, Priced Between $131,100 and $145,600
- Oil hits multi-year highs in third weekly gain on demand recovery
- Snowflake (SNOW) Falls Following Investor Day Despite Strong Guidance, Analysts Bullish But Say Investors May Have Wanted More
- Dollar looks stronger as euro and sterling dip
Investment Underscores Market Opportunity for Cloud-Enabled Global Applications
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
CAMBRIDGE, MA -- (Marketwired) -- 02/22/16 -- NuoDB, the database for cloud-enabled global applications, has completed a new round of financing. Driven by NuoDB's existing investors including Hummer Winblad Venture Partners, Longworth Venture Partners, and Morgenthaler Ventures, the $17 million investment reflects the investors' confidence in the innovative value proposition of NuoDB. The additional financing will enable the company to further refine its differentiated database offering while also expanding sales and marketing efforts to address the demand for cloud-enabled global applications.
Avant-garde database systems combine the needs of enterprise computing with the advantages of cloud-based systems. The past decade has seen many innovations in the $40 billion database market, as organizations turn to NoSQL, open source, and cloud databases to support the demands of global, mobile, and on-demand applications. In a November report, Gartner stated, "Through 2019, 70% of new projects requiring scale-out elasticity, distributed processing and hybrid cloud capabilities for relational applications, as well as multi-data-center transactional consistency, will prefer an emerging RDBMS over a traditional RDBMS."*
Customers have turned to NuoDB's SQL database as the only database that can support the requirements of their next-generation data center and power their own market-leading applications, all without having to sacrifice transactional integrity or critical management capabilities. NuoDB believes that this new approach to database management is the reason why NuoDB was recognized as a visionary by Gartner in its "Magic Quadrant for Operational Database Management Systems"** in October 2015 and ranked in the top four for all four use cases in December's "Critical Capabilities for Operational Database Management Systems."***
"As an early investor, we have closely reviewed NuoDB's technology and remain convinced that it is the database that can best address critical requirements for modern applications," said Gary Morgenthaler, Partner, at Morgenthaler Ventures. "No other offering comes close to meeting the need for an active-active operational database that can operate across two or more data centers. We believe that, with this additional investment, NuoDB will further strengthen and differentiate its avant-garde database and become a top database for global applications."
"NuoDB's adoption has been driven in large part by customers that are strategically transitioning to cloud delivery models and cloud architectures," said Mitchell Kertzman, Managing Director at Hummer Winblad Venture Partners. "These businesses recognize NuoDB as a critical enabling partner that can help them compete in an evolving global economy."
"As organizations continue to move to more agile and cost-effective technologies such as the cloud and Docker, the demand for a modern database system that can map to evolving application requirements is growing rapidly," said Nilanjana Bhowmik, General Partner at Longworth Venture Partners. "NuoDB is a database designed to support 21st century business needs and with this investment the company can continue to demonstrate its unique value proposition to the market."
"Our customers and prospects have repeatedly told us that no other database in the market so completely addresses the critical requirements of the modern data center. It's not just about the elastic scale cloud applications need, it's also about the journey to the data center of the future -- one that can actively support multiple use cases across multiple data centers," said Bob Walmsley, President and CEO of NuoDB. "With the additional financing from our inventors, we will continue to bolster our database offering and expand the reach of our innovations to help support our customers as they compete in today's cloud-based, on-demand economy."
- Download all three Gartner DBMS reports at http://go.nuodb.com/gartner-reports.html.
NuoDB's purpose-built SQL database combines the simplicity, rigor, and reliability of a traditional relational database with the elasticity, agility, and global accessibility provided by the cloud.
As application vendors and enterprises increasingly turn to the hybrid cloud to support their growing, global, and increasingly mobile, customer base, they rely on NuoDB as the only database that can maintain transactional consistency and integrity at global scale. These organizations trust NuoDB to meet all their needs -- active-active deployment, elastic scalability, data residency, and more -- as they run applications in the cloud.
NuoDB is headquartered in Cambridge, MA, USA, with offices in Dublin and Belfast. For more information, visit nuodb.com.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
*Gartner, "When to Use New RDBMS Offerings in a Dynamic Data Environment," by Adam M. Ronthal. Published November 2015.
**Gartner, "Magic Quadrant for Operational Database Management Systems," by Donald Feinberg, Merv Adrian, Nick Heudecker, Adam M. Ronthal and Terilyn Palanca. Published October 2015.
***Gartner, "Critical Capabilities for Operational Database Management Systems," by Merv Adrian, Donald Feinberg, Nick Heudecker, Adam M. Ronthal and Terilyn Palanca, December 9, 2015.
Media Contact: Lorita Balba@nuodb.com
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Announced at Parker Seminars Orlando 2021 - Parker University Strengthens Reputation in Educational Technology Leadership Role Among Chiropractic Programs Through Partnership with Touch of Life Techno
- IMBRUVICA® (ibrutinib) Plus VENCLEXTA®/VENCLYXTO® (venetoclax) Combination Shows Superior Progression-Free Survival Compared to Chlorambucil Plus Obinutuzumab in First-line Chronic Lymphocytic Leuk
- SKT to Participate in E3 2021 to Showcase Exciting Korean Games
Create E-mail Alert Related CategoriesPress Releases
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!