Home Tech Updates DataStax Raises $115 Million to Fund Database Expansion

DataStax Raises $115 Million to Fund Database Expansion

by Helen J. Wolf
0 comment

DataStax has secured $115 million in funding, which it will use to develop and expand its Astra DB multi-cloud database and Astra Streaming service globally.

These offerings are part of the company’s open data stack for building and running real-time applications in any cloud, at scale, anywhere in the world, with no downtime.

Goldman Sachs led the funding, with several other investors contributing, such as the RCM Private Markets Fund advised by Rokos Capital Management (USA), the Singapore-based global investor, EDB Investments, and DataStax’s existing investors, including Crosslink Capital, Meritech Capital Partners, OnePrime Capital, as well as other current investors.

DataStax Raises $115 Million to Fund Database Expansion

“Today’s industry leaders run their businesses with real-time data to create instant intelligence and drive action,” said Holger Staude, chief executive of Goldman Sachs.

“That’s exactly what DataStax empowers businesses to do, and why we’re excited to support the next generation of digital applications with our investment.”

Built on the open-source Apache Cassandra database, the growing popularity of Astra DB has given a strong boost to the company by making it easier for cloud-native application development.

Astra DB also offers pay-as-you-go pricing with the freedom and flexibility of multi-cloud and open source.

With the new funding, DataStax reaffirms its focus on developing Astra DB with new capabilities, such as additional integration with Astra Streaming, making it easier for organizations to activate real-time data.

“We see the transformative power of real-time applications every day across industries and at clients such as The Home Depot, Verizon, and Capital One,” said Chet Kapoor, CEO and Chairman of DataStax.

“CWe’reonly in the early stages of what’s possible with new data-driven experiences that will serve various human needs, create positive cycles between businesses and their customers and move markets.

“We appreciate that our investors believe in our vision; even in this economy, we were able to raise significant capital at a substantial premium over the round we completed just a year ago.”

The funding comes just over a year after DataStax expanded its presence in the Asia-Pacific (APAC) market with the opening of a new office in Singapore and the appointment of a general manager for the APAC region.

DataStax says establishing a regional headquarters in Singapore marked a major global expansion for the company, strengthening its commitment to the region and enabling it to meet the growing global demand for its marquee, Astra.

DataStax’s entry into APAC is strategically planned for the market opportunity, according to a statement.

A ResearchandMarkets.com report titled Global Cloud Database and DBaaS Market (2020 to 2025) highlights that Asia-Pacific is projected to have the highest growth rate over the forecast period.

DataStax added that since January 2021, the regional headquarters in Singapore has doubled in size, and its strategic location allows easy access to key markets.

You may also like