MemSQL raises $35 million in Series B funding
MemSQL is a big data company that has raised $35 million in Series B funding from Accel Partners and Khosla Ventures. Existing investors IA Ventures, First Round Capital and Data Collective also participated in this round of funding.
MemSQL will be using the funding for expanding product development and offering support for their growing user base. MemSQL has raised a total of $45 million thus far. The company was founded by former Facebook employees Eric Frenkiel and Nikita Shamgunov in 2011.
“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 The result is an outdated computing infrastructure that cannot handle the velocity and volume of data in the timeframe required of a true real-time solution.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,” said the company in a statement.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry