NewsOpen Source

Instaclustr raises $15 million led by Level Equity

0

Instaclustr, the open source-as-a-service company, has scored another investment win to accelerate expansion of its managed platform of core open source technologies.

The company has raised $15 million in a Series B funding round led by Level Equity, the New York City-based private investment firm. Instaclustr – now serving more than 100 customers from various industries – plans to double its headcount over the next year.

Peter Nichol, CEO, Instaclustr, said: “The new investment from Level Equity will accelerate our platform’s expansion, grow our sales and support teams, and allow us to reach more organizations seeking to optimize their data-related performance, reliability, security, and scalability.”

It is worth mentioning here that Instaclustr’s revenues have grown 300% over the last 24 months and this pace is expected to continue in the near future. Core technologies currently provided by the company’s managed platform include Apache Cassandra, Apache Spark and Apache Kafka.

Instaclustr will use this funding to expand its automated and proven management environment for database, analytics, search, and messaging services to include additional open source technologies such as Elasticsearch, Apache Ignite and Apache Flink.

The company will also be adding other data-centric open source technologies that integrate well and that are ideally suited for supporting the scale, high availability, and performance demanded from next-gen applications and solutions. All technologies will continue to be made available through a single platform capable of handling customers’ entire data layer.

Level Equity joins existing investors Bailador Technology Investments, ANU Connect Ventures, and Our Innovation Fund, LP.

Don't miss out great stories, subscribe to our newsletter.

Intel acquires deep-learning Startup Vertex.ai

Previous article

Salesforce open sources TransmogrifAI

Next article
Login/Sign up