FoundationDB Raises $17 Million
FoundationDB is a Virginia based startup launched in 2009 to address the lack of transactional NoSQL database systems. The founding team of the company used to work as executives at Visual Sciences (acquired by Adobe). FoundationDB has raised $17 million in Series A funding led by Sutter Hill Ventures with additional investment from CrunchFund and existing angel investors. FoundationDB plans on using the funding to expand sales, marketing, engineering, and support teams.
“We see the future of database technology as combining the scalable, distributed architecture of NoSQL with the power of ACID transactions,” stated Dave Rosenthal, CEO of FoundationDB. “The financing we’ve secured in this funding round strengthens our commitment to our existing customers and allows us to scale to better serve the needs of future ones. We’re very fortunate to have Sam, a seasoned technologist who shares our conviction, joining our board.”
FoundationDB’s technology offers the benefits of ACID transactions with the scalability and operational benefits that are associated NoSQL. FoundationDB launched the general availability of their platform in August 2013 following an 18-month alpha/beta program with over 2,000 participants.