DataStax secures $115 million to fund database expansion

DataStax has secured $115 million in funding, which it will use to develop and expand its Astra DB multi-cloud database and Astra Streaming service globally.

These offerings are part of the company’s open data stack to build and run real-time applications on any cloud, at scale, anywhere in the world, without downtime.

Goldman Sachs led the financing, with contributions from several other investors, such as RCM Private Markets fund advised by Rokos Capital Management (US), Singapore-based global investor EDB Investments and existing DataStax investors, including Crosslink Capital, Meritech Capital Partners, OnePrime Capital, as well as other current investors.

“Today’s market leaders run their business with real-time data to create instant intelligence and drive action,” said Holger Staude, CEO of Goldman Sachs.

“That’s exactly what DataStax enables businesses to do, and that’s why we’re excited to support the next generation of digital applications with our investment.”

Based on the open source Apache Cassandra database, the growing popularity of Astra DB has generated strong momentum for the company by facilitating the development of cloud-native applications.

Astra DB also offers pay-as-you-go pricing with the freedom and agility of multi-cloud and open source.

The new funding will see DataStax reaffirm its focus on developing Astra DB with new features such as additional integration with Astra Streaming, making it easier for organizations to enable real-time data.

“We see the transformative power of real-time applications daily across industries and among customers such as Home Depot, Verizon and Capital One,” said DataStax CEO and President Chet Kapoor.

“What is clear is that we are only at the early stages of what is possible with new data-driven experiences that will meet a wide range of human needs, create virtuous cycles between companies and their customers and move markets.

“We appreciate our investors believing in our vision; even in this economy, we were able to raise significant capital at a substantial premium to the round we completed just a year ago.”

The funding comes just over a year after DataStax expanded its presence in the Asia-Pacific (APAC) market with the opening of a new office in Singapore and the appointment of a managing director for the APAC region.

DataStax says the establishment of the regional headquarters in Singapore marked a major global expansion for the company, strengthening its commitment to the region and enabling it to meet growing global demand for its flagship offering, Astra.

DataStax’s entry into APAC is strategically planned for the market opportunity, according to a release.

A report by ResearchandMarkets.com titled Global Cloud Database and DBaaS Market (2020 to 2025) highlights that Asia-Pacific is expected to witness the highest growth rate during the forecast period.

DataStax added that since January 2021, the regional headquarters in Singapore had doubled in size and its strategic location would allow easy access to key markets.

Comments are closed.