- The funding will be used to expand Yugabyte’s R&D, sales and customer functions in the EMEA and APAC markets
- The funding will also be used to further accelerate enterprise adoption of Yugabyte’s commercial products
Yugabyte has announced a $48 million funding round led by Lightspeed Venture Partners with additional participation by Greenspring Associates, Dell Technologies Capital, Wipro Ventures and 8VC. It comes on the heels of a $30 million capital raise announced in June 2020, the round brings Yugabyte’s total funding to $103 million.
It said that the funding will be used to expand Yugabyte’s R&D, sales and customer functions in the EMEA and APAC markets. To support its aggressive expansion plans, Yugabyte will double its headcount in 2021.
Kannan Muthukkaruppan, Co-Founder and President said, “Today’s business environment demands flexibility and elasticity from database solutions, and distributed SQL is now critical for any organization where developer productivity and application uptime are top priorities. YugabyteDB makes something as fundamental and feature rich as PostgreSQL truly cloud native, resilient, elastic, and distributed. 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.”
With the new infusion of capital, Yugabyte is building out its engineering, DevOps and support staff in India, Russia and Canada. It recently acquired India-based Falarica.io to accelerate its development and recruiting efforts in the APAC region. It is also expanding its sales teams in EMEA and APAC because of strong demand for its open source distributed SQL database, and related products and services.
Accelerate enterprise adoption of Yugabyte’s commercial products
It said, “Over the past year, organisations have transitioned more work and non-work activities to the cloud, increasing the demand for cloud-native relational database management systems to ensure data is always available and can be accessed at the lowest possible latency. Enterprises and startups in need of increased flexibility turn to YugabyteDB for its PostgreSQL-compatibility and out-of-the-box support for multi-cloud deployments, enabling them to experience the full benefits of true cloud elasticity.”
The funding will also be used to further accelerate enterprise adoption of Yugabyte’s commercial products. Yugabyte Platform, a self-managed private database-as-a-service offering available on any public, private, or hybrid cloud or Kubernetes infrastructure and Yugabyte Cloud, a fully-managed database service currently available on AWS and Google Cloud, have seen broad adoption in the past 12 months, as per the company. Yugabyte also recently announced YugabyteDB 2.4, a major update including hardened enterprise-grade security features, enhanced multi-region deployment capabilities and significant performance improvements.
