Couchbase, the Santa Clara-based business behind the eponymous NoSQL cloud database service, today announced that it has raised a$105 million all-equity Series G round” to expand item development and worldwide go-to-market capabilities.”The oversubscribed round was led by GPI Capital, with participation from existing financiers Accel, Sorenson Capital, North Bridge Venture Partners, Glynn Capital, Adams Street Partners and Mayfield. With this, the company has actually now raised a total of$251 million, according to Crunchbase. Back in 2016, Couchbase raised a$30 million down round, which at the time was indicated to be the company’s last round before an IPO. That IPO hasn’t materialized, but the company continues to grow, with 30%of the Fortune 100 now utilizing its database. Couchbase likewise today announced that, throughout the last , it saw 70% overall contract value growth, more than 50% new service growth and over 35% development in typical membership offer size. In total, Couchbase stated today, it is now seeing almost $100 million in dedicated yearly recurring earnings.
“To be competitive today, enterprises need to change digitally, and utilize technology to get closer to their consumers and enhance the efficiency of their workforces,” Couchbase President and CEO Matt Cain stated in today’s statement. “To do so, they require a cloud-native database constructed specifically to support modern-day web, mobile and IoT applications. Application developers and enterprise architects count on Couchbase to allow agile application development on a platform that carries out at scale, from the general public cloud to the edge, and provides operational simpleness and reliability. Increasingly more, the biggest companies worldwide genuinely run their businesses on Couchbase, architecting their most business-critical applications on our platform.”
The company is playing in a large but competitive market, with the similarity MongoDB, DataStax and all the significant cloud vendors contending for comparable clients in the NoSQL space. One feature that has always made Couchbase stick out is Couchbase Mobile, which extends the service to the cloud. Like a few of its rivals, the company has likewise just recently positioned its bets on the Kubernetes container orchestration tools with, for example the launch of its Autonomous Operator for Kubernetes 2.0. Though, the business also introduced its fully managed Couchbase Cloud Database-as-a-Service in February, which permits businesses to run the database within their own virtual private cloud on public clouds like AWS and Microsoft Azure.
“We are thrilled to partner with Couchbase and view Couchbase Server’s extremely performant, dispersed architecture as purpose-built to support mission-critical usage cases at scale,” stated Alex Migon, a partner at GPI Capital and a new member of the business’s board of directors. “Couchbase has actually established a genuinely enterprise-grade item, with leading assistance for cutting-edge application advancement and implementation requirements. We are enjoyed add to the next phase of the company’s growth.”
The company informs me that it plans to utilize the new financing to continue its “sped up trajectory with investment in each of their 3 core pillars: continual differentiation, lucrative development, and world class groups.” Naturally, Couchbase will also continue to develop new features for its NoSQL server, mobile platform and Couchbase Cloud– in addition, the company will continue to broaden geographically to serve its global client operations.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.