Samsung Invests In Database-As-A-Service Company Cloudant
Samsung Electronics has invested in a cloud-based mobile enterprise company called Cloudant. Cloudant is a database-as-a-serve company that was even backed by the U.S. CIA agency as a customer and investor. Other investors in Cloudant includes Y Combinator and Avalon Ventures. Cloudant was a Y Combinator class in 2008.
This news comes at the same time that Samsung announced that they are committing $100 million to the Samsung Catalyst Fund. The company is spending a total of $1 billion to their Venture Americas fund and other research and development efforts across the globe.
Samsung said that the Cloudant investment will used to further their research and development into mobile application data management and for data distribution technologies. Cloudant’s technology can store, processor, transfer, and manage data consumed on smartphones and tablets.
“Samsung Ventures believes a globally distributed data layer and management of that data is especially critical for large enterprise businesses,” stated Samsung Ventures America Senior Investment Manager Hyuk-Jeen Suh. “We felt that this is the right time to strategically invest in Cloudant to support the company’s vision to manage the proliferation of data to be created by, for example, mobile devices, machine-to-machine (M2M) technologies, and the ‘Internet of things’ in the future.”