Yugabyte, a start-up based in Sunnyvale, California, secured US$48 million in venture funding for its open source distributed SQL databases for Internet-scale operations.
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.
The funding round was led by Lightspeed Venture Partners with additional participation by Greenspring Associates, Dell Technologies Capital, Wipro Ventures and 8VC.
“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.”
Source: https://www.convergedigest.com/2021/04/yugabyte-raises-48-million-for-database.html
