Yugabyte secured $30M In Series B Funding round backed by 8VC

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Yugabyte

Yugabyte, a California based open-source distributed SQL database provider, has now secured $30 million in Series B funding round.

Yugabyte is founded by the Kannan Muthukkaruppan. It offers a YugabyteDB, an open-source, cloud-neutral, and high performance distributed SQL database for building global, web-based applications. To date, the company has secured a total of $55 million in three funding rounds, according to CrunchBase.

The company client base includes the Plume, Kroger, Narvar, Xignite, Admiral, and others.

Executive Opinion

Kannan Muthukkaruppan, co-founder and President, Yugabyte, said, "We built YugabyteDB from the ground up to meet the untapped cloud native database demand from small and large enterprises alike. This round of funding from 8VC, Wipro Ventures, and others validates our approach. Bhaskar Ghosh, Partner & CTO at 8VC who led the investment and will join the Yugabyte board, is no stranger to enterprise data infrastructure; he worked at the core of Oracle and Informix databases and later helped fuel LinkedIn's growth as its Head of Data Engineering. We are thrilled to be working with Bhaskar and 8VC's dynamic team of investors with entrepreneurial roots that take a long-term view on disruptive technologies like ours."

Wipro Ventures managing partner, Venu Pemmaraju, said, "We are excited to welcome Yugabyte into the Wipro Ventures portfolio and bring their modern database technology to Wipro’s Global 1000 enterprise clients. We see a big opportunity to leverage Yugabyte’s technology for building and powering our clients’ newest web-scale applications. With geographic data distribution and high-performance requirements, distributed SQL provides very compelling value to our clients, particularly those in Financial Services and Retail."

Yugabyte's Latest Funding

The 8VC led the latest funding round of $55 Million. Other investor participation includes Wipro Ventures along with existing investors Dell Technologies Capital and LightSpeed Venture Partners.

Post funding, Scott Yara, the Former Senior VP of Products of Pivotal Software, will join the Yugabyte Board of Directors team.

The company, as of now, has plans to use the new funds to scale its Yugabyte's open-source project.  The latest funding will also support the effort to expand Yugabyte's commercial products in the enterprise segment.

In February this year, Yugabyte released its YugabyteDB 2.1 GA.

PC: Pablo, Unsplash

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Udit Agarwal Opinions expressed by techsutram contributors are their own. More details
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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