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2014-09-06

Premji Invest participates in $106 million funding raised by DataStax

DataStax now expects to accelerate growth and deliver sustainable long-term value and success to customers and partners.

SANTA CLARA: DataStax, the company that delivers Apache Cassandra to the enterprise, today announced that it has secured $106 million in Series E financing. This amount, together with the $84 million investment in previous rounds, brings the total invested to date to $190 million. 
 
 
The round was led by Kleiner, Perkins, Caufield & Byers (KPCB) and includes a syndicate consisting of leading institutional, international and top-flight venture capital firms. ClearBridge Investments, Cross Creek Advisors and Wasatch Funds, which collectively manage more than $100 billion in mutual funds, as well as Premji Invest and Comcast Ventures are additional new investors. All existing venture capital investors also participated in this round of financing. The highly competitive round was facilitated by Goldman Sachs.
 
 
Since the company’s inception in 2010, DataStax and Cassandra have solved some of the hardest enterprise technology challenges for more than 500 global companies including Intuit, Intercontinental Hotels Group, Clear Capital, Netflix and eBay. The company has also developed strong partnerships with over 115 companies including Google, Accenture, Microsoft and HP. In just under a year, DataStax has experienced extremely rapid growth and now has more than 350 employees (100 percent increase since December 2013) in six global locations: Santa Clara, Austin, London, Paris, Sydney and Tokyo.
 
 
A rapidly expanding global sales force that has grown the customer base in over 50 countries and accounts for revenue growth of more than 125 percent year over year.
 
 
A powerful and experienced executive team that is focused on scaling the company internationally. Key hires in the past year include known industry veterans Dennis Wolf as CFO, John Schweitzer as EVP of Field Operations, Tony Kavanagh as CMO and Clint Smith as General Counsel.
 
 
With this new round of funding, DataStax expects to accelerate growth and deliver sustainable long-term value and success to customers and partners. The company will continue to drive enterprise adoption and innovation in Apache Cassandra, and will further invest in the developer community, which now spans over 80 countries. 
 
 
DataStax also plans to continue its momentum in Europe, Asia and Japan by rapidly growing engineering, sales and marketing teams in those regions.
 
 
“Demand for DataStax is strong and accelerating as companies are realizing that in today’s world you either make data the center of your business or fall far behind your competitors who do so,” said Billy Bosworth, CEO of DataStax. “We have become the very fabric of the digital age and we are blazing the trail, helping to drive the future of enterprises and startups alike.”
 
 
As stated in the October 21, 2013 report, Magic Quadrant for Operational Database Management Systems, authored by Gartner analysts Donald Feinberg, Nick Heudecker and Merv Adrian: “Over the past five years, a large number of new vendors has entered the transaction market with products in support of the specialized applications needed to support this new, global business world.” The report continues: “to support the new operational DBMS market, many new and innovative vendors have emerged with new DBMS engines supporting transactions on a global scale, real-time transactions integrated with analytics, streaming data transactions and more.”
 
 
“DataStax is the leader in a massive shift that is underway from relational databases to more agile NoSQL data stores for new workloads,” said KPCB Partner Matt Murphy. “The scalability, manageability, and cost effectiveness of DataStax is not only timely, but critical at a time when companies are rapidly building out new applications and customer experiences as a competitive advantage. We are excited about investing in the leader in this radical shift.”
 
 
“Lightspeed and all previous investors are enthusiastic about significantly increasing their positions in DataStax,” said John Vrionis, General Partner at Lightspeed Venture Partners. “We led the Series A for DataStax a little over four years ago when the trend around big data was just beginning. We knew then, and it’s only proven stronger in the past few years, that DataStax and Cassandra are at the forefront of distributed database innovation for companies of all sizes.”
 
 
“The tidal wave of data has swept every aspect of consumer interactions, disrupting the way we engage in everyday activities, including the future of TV,” said Matt Carbonara, investment director, Comcast Ventures. “Comcast Ventures is excited to help DataStax scale by facilitating access to significant resources and expertise via our vast enterprise ecosystem.”
 
 
Traditional infrastructure and relational databases are being disrupted by a data-centric world whose new applications require emerging, rather than legacy, technologies. Industry analysts predict this transformation, driven by exploding volumes of data and new use cases such as the Internet of Things (IoT), will lead to a rapidly growing market for distributed databases. 
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