Couchbase gets $30M from VCs to expand the adoption of its document store
While they’re not nearly as quick to provide funding as they were a year ago, technology investors are apparently still willing to bet big when it comes to data management software. Sorenson Capital and half a dozen other private equity heavyweights this morning announced that they’ve led a $30 million round of financing into Couchbase Inc., one of the top players in the fast-growing NoSQL market.
Its namesake document store combines the reliability of traditional relational systems with a fairly accommodating data model that doesn’t require users to organize their information into rigid rows and columns. As a result, Couchbase Server can be utilized to store a wide variety of unstructured information in an equally broad range of applications. The platform is able to safekeep a company’s internal documents, hold onto the customer activity logs of an e-commerce site and ingest sensory output from the new types of connected devices that are entering the workplace. To top it off, there’s also a lightweight mobile edition designed to support smartphone and tablet apps.
Its broad appeal has enabled Couchbase Server to attract a diverse array of customers since hitting the market in 2011. LinkedIn Inc. uses the database to power several key features of its professional social network, while eBay Inc. stores buyer and seller information in its deployment. Couchbase claims that more than 90 percent of its corporate users renewed their subscriptions in 2015, which provides the management team with a solid foundation from which to expand.
The new capital from today’s round will enable the company to hire more sales professionals who can help widen the adoption of its platform and, just as significantly, bolster its engineering efforts. Couchbase has already been investing heavily in developing new functionality for its platform, most recently introducing a new iteration of the mobile edition that can perform certain key operations up to five times faster than its predecessor. And shortly before that, the company rolled out a similar performance improvement for the server-based version to improve query response times.
Image via Pixabay
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