NuoDB Closes $10M Series B
CAMBRIDGE, MA, Leader in elastically scalable database software for the cloud, today announced a Series B round of funding of $10 million. The round was led by Morgenthaler Ventures.
NuoDB, the leader in elastically scalable database software for the cloud, today announced a Series B round of funding of $10 million. The round was led by Morgenthaler Ventures and included participation by NuoDB's previous investors, Hummer Winblad Venture Partners and Longworth Venture Partners. The latest round brings the company's total funding to $12 million and will fund development of its disruptive cloud database software as well as sales and marketing.
Morgenthaler Ventures partner Gary Morgenthaler joins the NuoDB board of directors, which also includes Mitchell Kertzman of Hummer Winblad Venture Partners and former CEO of Sybase, and Nilanjana Bhowmik of Longworth Venture Partners and former senior executive at Object Design. Morgenthaler was co-founder and CEO of Ingres Corporation, a leading relational database software company and co-founded Illustra, the Postgres company. His investments have included Siri, Nuance Communications and Nominum.
"In today's web-scale world, databases must be able to scale horizontally and operate in a 24x7 environment," said Gary Morgenthaler. "The traditional client/server database paradigm is land-locked in a non-web and non-scalable view of the world and that needs to change. The notion of being able to disrupt the $25 billion SQL database market is an investment opportunity we don't often see and is the primary reason we chose NuoDB from among the many new entrants. Between NuoDB's approach and the team that really understands the requirements for elastically scalable databases, we're absolutely convinced that it is the best investment opportunity in this market."
Unlike every other database, NuoDB is built for the cloud from the ground up on an emergent architecture - a shared nothing, asynchronous, peer-to-peer approach that is ideal for the cloud, while also delivering the power, reliability and functionality of a traditional database. It is specifically architected to scale effortlessly on the cloud without compromising any of the established benefits of SQL and ACID-based relational databases. The NuoDB database is SQL compliant, highly resilient, requires minimal administration, guarantees the integrity of transactions and delivers high performance at web-scale with highly efficient and flexible resource utilization.
"Unlike other database startups, our ambition is not to build something that is 10 percent better than what already exists; it is to change the way to think about databases," said Barry Morris, NuoDB co-founder and CEO. "The fact that three investors, each with their own history of disruptive successes in the relational and object-oriented database markets, are betting on us validates NuoDB as a fundamental breakthrough in database technology. We appreciate this support."
NuoDB, Inc. is a Cambridge, MA based startup that provides the industry's first and only Elastically Scalable Database. Unlike every other database, NuoDB is architected to scale effortlessly on the cloud without compromising any of the features or guarantees of relational databases.
Founded in 2010 by industry-renowned database architect and innovator Jim Starkey and enterprise software CEO Barry Morris, the NuoDB database is currently in Beta and will become generally available in Q3 2012. For more information, visit us at http://www.nuodb.com.
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