Welcome!

Open Source Cloud Authors: Zakia Bouachraoui, Yeshim Deniz, Liz McMillan, Pat Romanski, Elizabeth White

Blog Feed Post

Distributed In-Memory Database Company @MemSQL Accelerating Into Enterprises With New Investments

By Bob Gourley

Editor’s note: we have met and had discussions with the leadership of MemSQL and are excited for the virtuous capabilities they bring to enterprise IT (see, for example, our interview with Eric Frenkiel and their position on our Top Enterprise Big Data Tech List). Investments like the one below will enable them to accelerate their movement into more enterprises, which will help speed us all up.- bg

Accel Partners Leads Series B Investment of $35 Million in MemSQL

Prominent Investors Enthusiastic about a $32.4 Billion Market Opportunity for In-Memory Database Company Delivering Big Data Analytics in Real Time 

SAN FRANCISCO, CA – January 22, 2014 – MemSQL, a leader in distributed in-memory database technology for real-time Big Data analytics, today announced it has secured $35 million in Series B funding. The investment, led by Accel Partners, will enable the company to expand product development, support its growing customer base and capitalize on the market for Big Data technologies, which is forecasted to reach $32.4 billion by 2017 or about six times the growth rate of the overall information and communication technology market*. The round included participation from Khosla Ventures and existing investors First Round Capital and Data Collective, as well as from several private financiers, and brings the total raised by MemSQL to $45 million.

The company was founded in 2011 by former Facebook engineers Eric Frenkiel and Nikita Shamgunov.  The co-founders saw the flaws in legacy Big Data solutions and built an in-memory, clustered application that supports high-volume online transaction processing (OLTP) and online analytical processing (OLAP) workloads while providing a full SQL interface.

“Through Accel’s Big Data Fund, we see a very broad database landscape.  We’ve backed breakout open-source leaders Couchbase on the transactional side and Cloudera, with its Enterprise Data Hub, on the analytic side, but we also believe there is a very distinct place for MemSQL in real-time analytics.  No executive wants to wait for insights anymore, and MemSQL’s in-memory, SQL technology means they don’t have to,” said Kevin Efrusy, general partner, Accel Partners.  “MemSQL has a strong team and a great track record for delivery, so we are thrilled to be their partner.”

In addition to being the world’s fastest in-memory database, MemSQL is the first Big Data analytics company to introduce JSON technology into its platform, combining structured and JSON data into a single database utilizing SQL, the most commonly used query language. This means that organizations can harness and combine two disparate data sources for operational analytics, network security, real-time recommendations and risk management.  Current MemSQL customers include Comcast, Zynga, Shutterstock and Ziff Davis, as well as many new mid-market customers.

“Demand for our in-memory database technology has been tremendous,” said Frenkiel, co-founder and CEO, MemSQL. “Customers are drawn to our solution because it delivers extremely fast performance on commodity hardware and has the ability to store and query multiple data formats in a single database. The result is an extremely fast Big Data solution with versatility and ease of use that lets customers see immediate ROI. This investment will help us grow our company and increase customer adoption.”

Big Data and real-time analytics profoundly impact the way organizations operate and engage with customers. However, there are challenges that prevent companies from fully extracting value from their data. Legacy database technologies are prone to latency, require complex and expensive architectures, and rely on slow disk-based technology. The result is an outdated computing infrastructure that cannot handle the velocity and volume of data in the timeframe required of a true real-time solution. MemSQL solves this performance bottleneck with its distributed in-memory computing model that runs on cost-effective commodity servers.

About MemSQL

MemSQL is the world’s fastest in-memory SQL database that accelerates applications, powers real-time analytics, and combines structured and semi-structured data into a consolidated Big Data solution. MemSQL empowers organizations to make data-driven decisions, better engage customers, discover competitive advantages, and reduce costs. MemSQL is proven in production environments across hundreds of nodes in the most high-velocity Big Data environments in the world. Based in San Francisco, MemSQL is a Y Combinator company funded by prominent venture capitalists and angel investors, including Accel Partners, Khosla Ventures, First Round Capital and Data Collective. For more information, please visit www.memsql.com. 

About Accel Partners

Founded in 1983, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel invests globally using dedicated teams and market-specific strategies for local geographies, with offices in Palo Alto, New York City, London, and Bangalore, as well as in China via its partnership with IDG-Accel.

Accel has helped entrepreneurs build over 300 successful technology companies, many of which have defined their categories. 99Designs, AdMob, AirWatch, Atlassian, Bonobos, Braintree, Brightcove, Cloudera, Couchbase, Diapers.com, Dropbox, Etsy, Facebook, Fusion-IO, Groupon, Lookout, Macromedia, MemSQL, MoPub, Nimble Storage, Opower, OzForex, QlikTech, Real Networks, Riverbed, Spotify, SuperCell, Sumo Logic, SunRun, Trifacta and Trulia.

### 

* IDC study, Worldwide Big Data Technology and Services 2013-2017 Forecast (IDC #244979)

Read the original blog entry...

More Stories By Bob Gourley

Bob Gourley writes on enterprise IT. He is a founder of Crucial Point and publisher of CTOvision.com

IoT & Smart Cities Stories
A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to great conferences, helping you discover new conferences and increase your return on investment.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
SYS-CON Events announced today that Silicon India has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Published in Silicon Valley, Silicon India magazine is the premiere platform for CIOs to discuss their innovative enterprise solutions and allows IT vendors to learn about new solutions that can help grow their business.
DXWorldEXPO LLC announced today that "IoT Now" was named media sponsor of CloudEXPO | DXWorldEXPO 2018 New York, which will take place on November 11-13, 2018 in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
DXWorldEXPO LLC announced today that All in Mobile, a mobile app development company from Poland, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. All In Mobile is a mobile app development company from Poland. Since 2014, they maintain passion for developing mobile applications for enterprises and startups worldwide.