US-based SQL database developer Yugabyte has raised a $48 million funding led by Lightspeed Venture Partners with additional participation by Greenspring Associates, Dell Technologies Capital, Wipro Ventures and 8VC. So far the company has raised $103 million, including a $30 million capital fund announced in June last year.
The fresh funding will be used to expand Yugabyte’s R&D, sales and customer functions in the EMEA and APAC markets. The company is also planning to double its headcount this year. It is currently building out its engineering, development operations and support staff in India, Russia and Canada. To accelerate its development and recruiting efforts in the APAC region, it has also acquired India-based Falarica.io.
“With companies of all kinds accelerating their digital transformation initiatives, technologies that help them accelerate, like YugabyteDB, are in high demand. This new round of funding will position Yugabyte to meet this increased enterprise demand and power our global expansion into key markets,” said Kannan Muthukkaruppan, co-founder and president, Yugabyte. YugabyteDB is the open source SQL database for building global, internet-scale applications.
With increasing demand for cloud-native relational database management systems to ensure data is always available, enterprise adoption of YugabyteDB continues to accelerate, particularly in the e-commerce, financial services and telecommunications verticals where geographic data distribution, transactional capabilities and horizontal scalability are critical for systems of record, said the company.
“With its unique combination of advanced RDBMS features, high availability, horizontal scalability, and ability to distribute data anywhere in the world, YugabyteDB is already the beating heart of many mission-critical global applications and will soon underpin many more,” said Ravi Mhatre, Partner at Lightspeed Venture Partners.