UPDATED 09:00 EDT / JUNE 09 2020

BIG DATA

Yugabyte raises $30M for its cloud-native distributed SQL database

Open-source relational database company Yugabyte Inc. is in the mood for expansion after landing a new $30 million funding round announced today.

The oversubscribed Series B funding round was led by 8VC. Wipro Ventures and existing investors Lightspeed Venture Partners and Dell Technologies Capital also participated in the round, which brings Yugabyte’s total amount raised to $55 million.

Yugabyte is the company behind YugaByte DB, which it describes as an open-source, high-performance distributed Structured Query Language database that’s used for building global, internet-scale applications. The company also sells commercial products based on YugabyteDB, including the self-managed Yugabyte Platform that can run on any on-premises, private or public cloud infrastructure, and Yugabyte Cloud, which is a fully managed version of the software that runs on Amazon Web Services Inc. and Google LLC’s respective cloud platforms.

Perhaps the best thing about Yugabyte’s database software is that it delivers both SQL and NoSQL capabilities, which means it can work with both structured and unstructured data. That makes it possible for companies to standardize on a single, distributed database that can support a wide array of workloads, speeding up application development times while reducing complexity, the company said.

At the same time, those capabilities mean that companies can avoid being locked into a single cloud platform. Although it’s possible to move applications from one cloud to another, doing so requires maintaining multiple databases across both platforms so they can interoperate. With Yugabyte, that’s no longer necessary.

Yugabyte’s backers argue that this kind of compatibility will be increasingly sought after, as enterprises rush to adopt multicloud strategies that involve running apps and services on various cloud platforms.

“We see a big opportunity to leverage Yugabyte’s technology for building and powering our clients’ newest web-scale applications,” said Wipro Ventures Managing Partner Venu Pemmaraju. “With geographic data distribution and high- performance requirements, distributed SQL provides very compelling value to our clients, particularly those in financial services and retail.”

Today’s round comes a few weeks after Yugabyte announced the release of YugabyteDB 2.1, a key update that adds new geodistributed deployment options and delivers a 10-times performance boost over the previous edition of the platform.

Yugabyte said it will use the funding to continue adding new capabilities and features to YugabyteDB, and to drive broader enterprise adoption of its commercial products.

Image: TheDigitalArtist/Pixabay

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