NuoDB Secures Additional $17M in Financing

Date 2016/2/23 13:03:14 | Topic: Company News

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'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."

"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."

This article comes from Software Development Tools

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