MemSQL Nabs $30M in New Funding After Record Year
San Francisco-based MemSQL recently announced that it has closed $30 million in new venture capital. The Series D round, which included new and existing investors, brings the company’s total amount of funding earned to $110 million since being founded in 2011. MemSQL plans to use the injection to invest in its engineering, support, customer management and operation teams.
MemSQL offers a real-time data warehouse that ingests data continuously to perform analytics. The tool can ingest and transform millions of events per day while also analyzing billions of rows of data using standard SQL. MemSQL can be deployed on-prem, in the cloud via Amazon Web Services or Microsoft Azure, or as a service including drop-in compatibility with existing middleware, integration, and BI software.
The provider ended its fiscal year with fourth quarter commercial bookings growing more than 200 percent. Additionally, MemSQL established a new baseline for speed by delivering a scan rate over a trillion rows per second on 12 Intel servers – something that organizations with very large data sets surely appreciate.
In a media statement, the company’s co-founder and Chief Executive Nikita Shamgunov said: “Data architects are not scoping new applications on legacy databases because it’s no longer cost-effective. We work with customers every day that choose MemSQL to get insights and value from their data immediately.”
MemSQL’s star is certainly on the rise, as the company was included in several major analyst reports in the last few months. Solutions Review named the vendor one of 5 Data Management Solutions for Analytics Vendors to Watch in 2018 in January. Shortly after, Gartner included MemSQL as a market challenger in its Magic Quadrant for Data Management Solutions for Analytics. CRN also grouped MemSQL amongst some of the coolest big data startups in its May Big Data 100 listing.
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