Aerospike have been making serious waves as a NoSQL solution for the advertising industry, due to their ability to process millions of transactions every second. It comes as little surprise, then, that they’ve managed to secure a $20 million series C round of venture capital. The round was led by NEA, with Columbus Nova Technology Partners, Alsop Louie Partners and Regis McKenna also contributing. Their battle plan with this new investment is two-fold; first, open source their technology. Second, use this new exposure to move into new markets where speed is vital, such as finance, retail and travel.
Aerospike have, up until this point, focused their efforts primarily on the advertising industry, but “there’s a moment when the time is right to go for broad adoption”, as CTO and Founder Brian Bulkowski noted. Now that they’ve built a robust platform, Aerospike is ripe for expansion.
They hope that open sourcing their product will build both trust and exposure for their product. They’re now following a similar “open core” business model to NoSQL competitors MongoDB, where the technology will be open-sourced, by they’ll maintain premium enterprise features for their paying clientele.
They are, however, stepping into a crowded marketplace. There’s a vast proliferation of NoSQL solutions out there offering the same focus on performance and low-latency, who’ve been around a while and already have established client bases. But Bukowski is confident his team’s technology will speak for itself. Moving forward, Aerospike are hoping to introduce connectors for other platforms such as Hadoop and improvements to SQL query language support. Only time will tell if Aerospike manage to establish themselves outside the realm of advertising and marketing.
Read more here.
(Image credit: Aerospike)
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