Elasticsearch Raises $70 Million in Series C Financing
LOS ALTOS, Calif. and AMSTERDAM, The Netherlands, June 5 – Elasticsearch, Inc., provider of an end-to-end real-time search and analytics platform, today announced it has raised $70 million in Series C financing from New Enterprise Associates (NEA), with additional participation from Benchmark Capital and Index Ventures. Along with this investment, NEA General Partner Harry Weller takes a seat on the Elasticsearch Board of Directors.
Born as a search company, Elasticsearch now offers a full technology solution – the Elasticsearch ELK stack – that delivers on the unmet promise of big data by empowering decision makers to extract meaningful insights, in real time. With this latest round, Elasticsearch has raised a total of $104 million over the course of the past year and a half. The company plans to use its funding to accelerate global awareness of its solutions, drive continued product development, and expand its sales organization worldwide.
Since its founding in 2012, Elasticsearch has continued to experience massive growth at a rapid pace. Over the past year, the company has:
- Increased adoption of its three core products – Elasticsearch, Logstash and Kibana – by 3x, climbing to more than 8 million total downloads
- Grown its customer base by 7x, adding industry titans such as Comcast, eBay, Facebook, Mayo Clinic, TomTom and Tinder to its customer roster
- Doubled its number of employees, including executives from Box, Citrix, Splunk and VMware
“It’s incredible to receive this kind of support from our investors over such a short period of time,” said Steven Schuurman, Elasticsearch co-founder and CEO. “This speaks to the importance of what we’re doing: Businesses are generating more and more data, both user- and machine-generated, and it has become a strategic imperative for them to get value out of these assets – whether they are starting a new data-focused project or trying to leverage their current Hadoop or other big data investments. Our investors recognize the value we’re providing and the rapid market traction we’re seeing, and they want to help us scale as quickly as possible.”
“We’ve been watching Elasticsearch, and the response from both developers and customers is truly impressive,” said Harry Weller, General Partner at NEA. “It’s rare to see a company not only get developers excited by their technology, but also sell successfully into the enterprise, and we see massive opportunities on an even broader scale. We hope to provide resources and guidance to help Elasticsearch continue down this path, delivering on the promise big data companies have been dancing around for years.”