ScyllaDB Raises $43M to Take on MongoDB at Scale, Push Database Performance to New Levels
The NoSQL databases have become a staple for the data platform landscape. An increasing number of organizations are already using NoSQL databases in production today or planning to adopt NoSQL databases soon. This has resulted in rapid growth of the NoSQL market. The key players in the industry are scrambling to establish a competitive advantage.
ScyllaDB, the highly scalable and fast NoSQL database, recently announced that it has raised $43 million in funding. The funding round was led by global venture capitalists Eight Roads Ventures and AB Private Credit Investors, a platform of AllianceBernstein. Other prominent investors in ScyllaDB include Magma Ventures, TLV Partners, and Qualcomm Ventures. To date, ScyllaDB has raised an impressive $103 million in venture capital.
Data-intensive applications that require predictable low latency and high throughput benefit the most from ScyllaDB. Over 400 global game-changing companies including Samsung, Starbucks, Discord, and Epic Games use ScyllaDB for their toughest database challenges.
The new funding will enable ScyllaDB to push database performance to new levels. There has already been a surge in demand from teams that hit barriers to scale using MongoDB. R&D teams across industries are realizing that Scylla’s unique database architecture delivers outstanding performance and scalability for data-intensive workloads.
“ScyllaDB is architected through its shard-per-core design to capitalize on continuing hardware innovations,” explained Dor Laor, ScyllaDB Co-Founder and CEO. “Other NoSQL databases are effectively insulated from the underlying hardware. With the amount of data doubling every year and new usages driven by AI, customers require fast, scalable, and cost-effective solutions – and ScyllaDB displaces leading database vendors on a daily basis.”
In an independent in-depth benchmark study by benchANT, the technical characteristics and performance of ScyllaDB and MongoDB were compared in a total of 133 measurements. ScyllaDB outperformed MongoDB in 132 of 133 measurements. In the benchmark study, ScyllaDB had 68x lower latencies vs. MongoDB. In addition, ScyllaDB had 20x better throughput and 19x better price-performance ratio. The result of this benchmark study builds on previous benchmark results vs. DynamoDB, Cassandra, and other databases.
Davor Hebel, Managing Partner at Eight Roads Ventures commented, “The NoSQL database market size has reached $13 billion, still growing 21% year-over-year, making it one of the largest and fastest growing software segments. ScyllaDB is uniquely positioned to help companies address the challenges of continued data proliferation and the performance needs of modern applications. We have been impressed by the team’s execution since our original investment in 2019 and are excited to deepen our partnership further.”
The timing of the new funding comes during a year of record growth for ScyllaDB. The Database-as-a-Service (DBaaS) revenue increased by 100% as an increasing number of organizations migrated to ScyllaDB to benefit from its industry-leading price-performance.
The company’s 800% overall revenue growth also landed it a spot on the prestigious Deloitte Technology Fast 500. In addition, ScyllaDB was named Google Cloud Customer of the Year and ScyllaDB is set to host 15,000 engineers at the P99 CONF, the largest conference of its kind. The record growth year followed by new funding further reinforces ScylldaDB’s position as one of the leaders in the market.