NoSQL Cloud Database platform, Couchbase secured $105 Million led by GPI Capital


Couchbase, a Santa Clara based company behind the NoSQL Couchbase Cloud database service, has now secured $105 million in Series G funding round.

Couchbase is founded by Matt Cain. It offers an enterprise-class, multicloud to edge database that offers the robust capabilities required for business-critical applications on a highly scalable and reliable platform. With the help of this new funding round, the company has now secured a total of $251 Million.

In the current stressful economic conditions, the latest funding underscores the importance of modern databases and Couchbase, notes the announcement.

Executive Opinion

Couchbase President and CEO Matt Cain, said, "To be competitive today, enterprises must transform digitally and use technology to get closer to their customers and improve the productivity of their workforces. To do so, they require a cloud-native database built specifically to support modern web, mobile, and IoT applications. Application developers and enterprise architects rely on Couchbase to enable agile application development on a platform that performs at scale, from the public cloud to the edge and provides operational simplicity and reliability. "

Alex Migon, Partner of GPI Capital and a new member of the company’s board of directors, said, "We are excited to partner with Couchbase and view Couchbase Server’s highly performant, distributed architecture as purpose-built to support mission-critical use cases at scale. Couchbase has developed a truly enterprise-grade product, with leading support for cutting-edge application development and deployment needs. We are thrilled to contribute to the next stage of the company’s growth."

Couchbase's Latest Funding

The GPI Capital led the latest funding round. Other participating investors include the North Bridge Venture Partners, Accel, Adams Street Partners, Sorenson Capital, and Mayfield.

The company, as of now, has plans to use the new funds to expand product development, global business outreach, and cloud innovation. The company already has $100 Million in annual recurring revenue, notes the announcement.
PC: Pablo, Unsplash

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Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

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