Fast-growing NoSQL database company raises funds to extend operations and bring new deployment flexibility to users of Amazon DynamoDB
PALO ALTO, Calif. — September 11, 2019 — ScyllaDB, the monstrously fast and scalable NoSQL database company, today announced that it has received $25 million in funding to meet increasing demand for a highly scalable, highly performant NoSQL database. Already outstripping Apache Cassandra, ScyllaDB will use the new funds to offer a better, faster open source alternative to Amazon DynamoDB.
Since launching in 2015, ScyllaDB has replaced Cassandra at hundreds of leading organizations, including Comcast, GE, Grab, IBM, Opera Software, Samsung and Starbucks. Expanding on that effort, ScyllaDB today launched an API that enables DynamoDB users to effortlessly migrate to ScyllaDB’s free open source database.
“Now that our product has matured, we’ve expanded our APIs with new capabilities and added deployment options for our as-a-service offering to run on multi-cloud infrastructure,” said Dor Laor, CEO of ScyllaDB. “Remaining true to our open source roots, we’re now providing an OSS, upstream-first alternative to the popular DynamoDB database. That means DynamoDB users will be able to run their applications everywhere, extend the database, gain in-depth observability with Grafana, enjoy better, lower latency — and all this at a fraction of the price.”
The round was led by Eight Roads Ventures and brings the total amount raised by ScyllaDB to date to $60 million. Existing investors Bessemer Venture Partners, Magma Venture Partners, Qualcomm Ventures and TLV Partners also participated in the round. In addition to developing the DynamoDB-compatible API, ScyllaDB will use the additional funding to expand its engineering department and double its global sales and marketing team.
Davor Hebel, the head of the European team for Eight Roads Ventures, led this investment and will join ScyllaDB’s board of directors. He commented, “ScyllaDB is poised to transform the global database market, replacing existing vendors who cannot meet the scale, price or performance needs that most organizations have. ScyllaDB has a world-class technical team, a deep tech product and has already shown impressive performance. We are excited to begin this partnership and work together to build a leading global database platform.”
Adam Fisher, Partner at Bessemer Venture Partners, which led ScyllaDB’s Series A round of financing in 2013, praised the company’s emphasis on product cost efficiency.
“For enterprises, total cost of ownership is key,” Fisher said. “The genius of ScyllaDB is that it offers best-in-class performance along with the lowest total cost. Whereas normally you have to choose one or the other, with ScyllaDB you get both. That gives it a powerful competitive advantage that has helped it win adoption with enterprise customers like Comcast and Grab.”
The funding news comes ahead of ScyllaDB’s annual user conference, ScyllaDB Summit 2019, November 5-6 at the Parc 55 hotel in San Francisco, featuring speakers from Fortune 500 companies like Capital One and Comcast, and fast-growing Internet companies like Fanatics and Grab.
