It’s been a huge period of positive modification for Yugabyte, makers of the open source, cloud native YugabyteDB database. Simply last month they brought on former Essential CEO Costs Cook as CEO, and today the company revealed it
has actually closed a$30 million Series B. 8VC and strategic financier WiPro led the round with participation from existing investors Lightspeed Venture Partners and Dell Technologies Capital. Today’s financial investment brings the overall raised to$55 million, according to
the company. The startup likewise announced that previous Critical co-founder Scott Yara would be joining the business’s board. Along with Cook, that brings an unique Critical impact to the business.
Kannan Muthukkaruppan, who was CEO, now holds the title of president. He says that the company has actually built “a completely open source, high performance dispersed SQL database meant for transactional work in the cloud.”
Today, in addition to the open source product, it provides a personal Database as a Service platform to business clients. This can work on a variety of platforms consisting of public, personal, or hybrid cloud or Kubernetes infrastructure. The business also offers a fully managed cloud service, which is currently offered on AWS and Google Cloud Platform with Azure assistance coming in the future.
The creators have quite a pedigree. Muthukkaruppan spent 13 years at Oracle assisting develop Oracle’s relational engine. He moved onto Facebook in the early days where he fulfilled co-founders Karthik Ranganathan and Mikhail Bautin. The starting team dealt with database technology that assisted scale Facebook from 40 million users to over a billion.
It was that background that truly captured the attention of Cook. “First off, there’s a substantial market opportunity here that we think we suit, and it is distinct in the sense of the pedigree that this group has, and what they built and the expertise they have throughout that entire spectrum of having the ability to scale and have [a database that is] performant across [geographical] zones,” he said.
As the company gets this financial investment, it’s not just a duration of change inside the organization, it is against the backdrop of the worldwide pandemic and economic fallout from that event, however Muthukkaruppan sees momentum here in spite of the macro conditions.
“With COVID-19, we really saw an increased sense of seriousness across numerous business, wanting to move businesses to the cloud and enhance their operational and go-to-market performance around the item that they were bringing to market,” he stated. He thinks that the company’s database can be a key part of that.
The business presently has 50 staff members, but sees doubling that number in the next 12-18 months as interest in the items continues to grow. Cook states the company has a diverse workforce today, and he will continue to build on that in his employing practices.
“The more inclusive you can be ties to all our values and concepts [as a company] currently so we’re not changing how we run,” he states. He states variety is not just the best thing to do from a human viewpoint, it also makes good organisation sense to have a diverse labor force.
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.