Another globally distributed cloud native SQL database on the rise: Yugabyte Raises $30 million in Series B Funding

Another globally distributed cloud native SQL database on the rise: Yugabyte Raises  million in Series B Funding

Your good old on-premise SQL database is in terminal decline. Being a pure-play open-source cloud-native PostgreSQL, while offering Apache Cassandra and GraphQL interfaces, is what you need, says Yugabyte.

It’s not a coincidence — it’s a trend. Another globally distributed cloud native SQL database is getting a hefty amount of funding. This time, it’s Yugabyte. Yugabyte, a company founded by Facebook data infrastructure veterans, today announced that it has raised $30 million in an oversubscribed Series B round.

The round, led by 8VC, also includes participation from a strategic investor, Wipro Ventures, and existing investors, Lightspeed Venture Partners and Dell Technologies Capital. The round brings the company’s total funding to $55 million. Yugabyte also adds Scott Yara, co-founder and former SVP of Products of Pivotal Software, to its board of directors.

“Legacy source-of-truth databases form the beating heart of enterprises, and their movement to the cloud has just begun. This massive market deserves a product as beautifully architected and operable as the Yugabyte platform, and as formidable a team led by developer legends as Kannan Muthukkaruppan, Karthik Ranganathan and Mikhail Bautin,” said Bhaskar Ghosh, Partner and CTO at 8VC.

ZDNet connected with Yugabyte founders Kannan Muthukkaruppan and Karthik Ranganathan, and newly recruited CEO Bill Cook, previously of Sun Microsystems and Pivotal, for a deep dive in the company, the funding, and the market.

Read the full article on ZDNet

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