Aerospike Raises USD 32 Million in Series D

By StartUp City | Tuesday, November 19, 2019

The new deal brings the company's total venture backing to USD 78 million. As part of the deal, Triangle Peak Partners’ co-founding partner Dain DeGroff and NewView Capital operating partner Tim Connor will join Aerospike’s board of directors.

Fremont, CA: Real-time NoSQL data solutions provider Aerospike Inc., raised USD 32 million in a Series D funding round led by Triangle Peak Partners LLC, with investments from existing investors NewView Capital Partners, Alsop Louie Partners, and Eastward Capital Partners. The Silicon Valley-based startup is behind Aerospike DB, a hardware-optimized, in-memory NoSQL database solution designed for very large scale and very fast response times.

The new deal brings the company's total venture backing to USD 78 million. As part of the deal, Triangle Peak Partners’ co-founding partner Dain DeGroff and NewView Capital operating partner Tim Connor will join Aerospike’s board of directors. The company did not disclose post financing valuation and other details. Aerospike provides a patented hardware-optimized NoSQL data platform for real-time transactional and AI/ML-based applications that require machine speed and machine scale.

Cloud Tech Startups in Europe

“Companies are on a journey to convert unprecedented amounts of data into intelligence and push it from the core to the edge and gain a competitive advantage,” said John Dillon, CEO of Aerospike. “Aerospike is the critical real-time data platform in a new stack of technologies underpinning this sea change, and our footprint continues to aggressively expand within enterprises as real-time transactions and analytics become more pervasive and mainstream.”

The new funding will be used towards the expansion of the company's geographical presence, development of additional data infrastructure integrations, and grow enterprise partnerships. The company has achieved more than 50 percent growth year over year and has maintained a customer retention rate of over 95 percent for more than five years. With cloud simplicity, Aerospike makes it easier for companies to succeed at data-intensive digital transformation.

“Aerospike is part of a new generation of technologies that have moved into the mainstream to power new business processes that were previously impractical or impossible at scale,” said Dain DeGroff, co-founding partner, Triangle Peak Partners, which has investments in Bugcrowd, Puppet Labs, SnapLogic, and Heap.

Check Out : Top Finance Technology Companies

Weekly Brief