Basho Technologies Inc., the company that develops the popular Riak NoSQL database, is looking to sell itself after seeing its growth stall, according to reports.

The Register cites a “source close to Basho” as saying that the company is “working on a sales process,” without providing any details on potential buyers.

Basho began life back in 2008, when it was founded by then-Chief Executive Officer Earl Galleher and Chief Operating Officer Antony Falco. The company has pulled in $59.8 million in eight funding rounds from six different investors over the years, including $25 million in its most recent Series G round led by Georgetown CP back in January 2015. In January, the Register also reported that Galleher sued the company, saying investor Georgetown Capital Partners and its Managing Director Chester Davenport, now executive chairman at Basho, slapped “punitive” terms on the latest round that triggered a cash liquidity crisis.

The company’s main product offerings include the Riak KV and the Riak Time Series databases, which are used to store massive data lakes. Basho’s current chief executive, Adam Wray, said in a January interview with Diginomica that the Time Series database was aimed at Internet of Things workloads and the network edge, but it looks to have been a gamble that didn’t pay off.

“Our big bet, which we made available on open source in the summer, was our time series offering,” Basho told Diginomica. “We see the opportunity in edge computing in Time Series as the next big wave.”

Unfortunately for Basho, it seems that financial realities have overtaken its plans for edge computing dominance, as The Register said the company has since “fallen on hard times.” It noted that Basho has dispensed with the services of PR agencies such as Axicom in the U.K. and BOCA Communications in the U.S. since last year, while its most recent press release was issued in September 2016.

In addition, the company recently saw Senior Director of Marketing Stephen Condon leave, taking a role at Hive Streaming just last month.

Image: Basho