MemSQL Gains Traction, New Investors
MemSQL, the database vendor that touts its architecture as capable of handling both data analytics and transactions, announced a $30 million funding round led by, GV, the former Google Ventures.
The hybrid SQL database developer said this week its latest funding round brings its total to $110 million. Along with new investors GV and Glynn Capital, existing investors joining the Series D round were Accel (formerly Accel Partners), Caffeinated Capital, Data Collective and IA Ventures. The funds will be used to expand engineering support and MemSQL’s operations teams, the company said.
MemSQL is among an emerging group of in-memory relational database developers whose hybrid, or “translytical,” architecture is capable of ingesting and analyzing large data volumes in near real time. The San Francisco-based company’s architecture, variously referred to as “hybrid transactional analytical processing,” is promoted as eliminating the need for maintaining separate analytical and transactional databases, thereby accelerating the ingestion of operational data while leveraging the potentially lucrative “transaction window.”
“The future of relational databases is about consuming data as a utility and delivering both transactions and analytics on the same data,” Nikita Shamgunov, MemSQL’s CEO, noted in a blog post announcing the funding on Tuesday (May 15). “This allows customers to derive more value from their data, focus on business growth and reduce infrastructure costs.”
The market researcher Forrester recently judged the MemSQL database to be a “viable translytical platform” with full ACID (atomicity, consistency, isolation, durability) compliance and sufficient performance to support analytical, operational and transactional workloads.
The company recently claimed a new speed baseline, recording a scan rate of more than 1 trillion rows of data per second running on a dozen Intel x86 servers. It also said commercial bookings jumped 200 percent year-on-year during its most recent fiscal quarter. Customers for the hybrid database include Comcast (NASDAQ: CMCSA), Dell/EMC, Pandora (NYSE: P) and Uber .
MemSQL and other up-and-comers such as Aerospike, DataStax and Redis Labs emphasize real-time analysis. MemSQL added a Spark pipeline to its in-memory database in 2015 to accelerate access to real-time analytics and transactions. The upgrade also was designed to address the growing enterprise need to “synthesize varied data types,” a requirement that has only grown over the last three years.