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November 18, 2019

Aerospike Raises More Cash

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Aerospike, the real-time NoSQL database vendor, said this week it raised $32 million in its most recent funding round, underscoring growing investor confidence in big data startups exhibiting the ability to scale and while accelerating delivery of data analytics results.

Aerospike, Mountain View, Calif., said Monday (Nov. 18) the Series D funding round was led by Triangle Peak Partners. Existing investors include NewView Capital Partners, Alsop Louie Partners and Eastward Capital Partners.

Aerospike’s NoSQL data platform is touted as supporting real-time transactional applications along with other apps based on machine learning. Those applications include processing payments, managing online advertising campaigns and fraud protection.

For example, Aerospike said Verizon Media (NYSE: VZ) recently deployed its real-time data platform to help consolidate and streamline the wireless carrier’s data infrastructure.

Aerospike said it would use the new funding to further integrate its data infrastructure along with expanding its global operations to reach more enterprise customers.

Aerospike CEO John Dillon noted in a blog post announcing the funding round that the company grew by more than 50 percent over the last year.

“What has become clear in an age of instant answers is that a new stack is required” as databases falter at petabyte scale and memory-caching servers fall short, Dillon added. “The new stack is also in the early stages of becoming ‘the’ stack for more traditional data workloads.”

To that end, Aerospike was among the first non-relational database vendors to embrace Intel Corp.’s (NASDAQ: INTC) Optane persistent memory. A version of Aerospike’s database released last December combined the persistent memory technology with highly parallel access to additional tiers of storage. Intel (NASDAQ: INTC) is aiming its Optane DC persistent memory technology at datacenter operators seeking to extract more value from huge data volumes.

These and other improvement to the Aerospike technology stack have encouraged investors. The database vendor has leveraged “the advantages of fully optimizing all the power of modern hardware,” said Tim Connor, an operating partner with NewView Capital. Conner is among two partners joining Aerospike’s board, the company announced.

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