MemSQL, a provider of database platforms for real-time analytics, recently announced that it has closed on a Series C funding round with $36 million. This latest investment brings the company’s total amount raised to $85 million, and will help to ensure that MemSQL can continue helping the world’s largest enterprise organizations meet their data processing demands so that they may gain insights in real-time. The company plans to use the funds to accelerate growth, including engineering, sales, support, and marketing.
MemSQL’s Co-Founder and CEO Eric Frankiel explains: “Every day, MemSQL customers harness the power of real-time data to increase business velocity, drive greater revenue, and decrease costs, and we look forward to helping companies across industries achieve similar results. We welcome our new investors who clearly understand that a proven business model in the database market is a critical foundation for growth.”
Back in March, the company released MemSQL 5, an update to their flagship tool that included breakthrough analytics performance which drives real-time Business Intelligence and supports on-site deployment or across multiple cloud providers. Version 5 empowers companies to harness real-time data while using familiar SQL and SQL-focused tools to obtain immediate results.
In addition, MemSQL was named a visionary in Gartner’s 2016 Magic Quadrant for Data Warehouse and Data Management Solutions for Analytics. This announcement came on the heels of MemSQL also being named to the Gartner Magic Quadrant for Operational Database Management Systems. As the company points out, there are only five vendors which were named visionaries or better in both of those reports, Oracle, IBM, Microsoft, SAP, and MemSQL. Some pretty impressive company to be sure.
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