Aster Data Systems Raises $12 Million in Series B Funding
Data Warehouse Veteran Backers JAFCO Ventures and Sequoia Capital Invest in Rapidly Growing Data Warehouse Leader
Redwood City, Calif. – January 13, 2009 – Aster Data Systems, a proven leader dedicated to providing the best analytic databases for frontline data warehousing, today announced it has completed a $12 million round of equity funding led by JAFCO Ventures. Joe Horowitz, Managing General Partner of JAFCO Ventures, has joined Aster's Board of Directors. Existing investors Sequoia Capital, Cambrian Ventures and First Round Capital also participated in the round.
JAFCO Ventures has a deep understanding of the data warehousing market from their previous investment in DATAllegro, which was acquired by Microsoft in 2008. This investment reinforces the domain understanding that Sequoia Capital brings to Aster, from their previous investment in Netezza, which went public in 2007.
"We are delighted to have seasoned venture capitalists of this caliber on our Board, who understand the data warehouse market and have the experience to help us build Aster into a great success," said Mayank Bawa, CEO and Co-Founder of Aster. "As the bar continues to be raised higher than ever for venture capital investments, investors and customers recognize the game-changing innovations of the Aster solution. We plan to aggressively grow the company so we can continue to provide the best data warehousing engine to our customers."
"Aster is on track to become the gold standard in data warehousing and analytics," said Joe Horowitz, of JAFCO Ventures. "Aster has clearly differentiated itself with their next-generation frontline data warehouse technology that capitalizes on the needs of the market today. We are excited by the opportunity to support the company and look forward to supporting its growth into the major global player in the $20 billion database market."
Aster nCluster is a high-performance analytic database for frontline data warehousing. Aster nCluster provides an always-on, always-parallel MPP architecture with the In-Database MapReduce programming framework for business-critical applications. Unlike traditional analytic databases, Aster's online fault tolerance and hands-free administration allows it to run on low cost, commodity hardware. Aster delivers automated one-click scaling, recovery, backup, restore, and upgrades - enabling enterprises to maintain current staffing levels, even as data sizes multiply each year.
"A perfect data warehousing engine will process and leverage all the data in an enterprise," said Tasso Argyros, CTO and Co-Founder of Aster. "That is where Aster is headed."
"Aster has all the ingredients to change the game in this market - proven, differentiated technology, a rapidly growing revenue stream and customer base, and a solid management team," said Doug Leone, Managing Partner at Sequoia Capital. "The company is well positioned to become the category leader in the next generation of data warehouses, and we are pleased to partner with them in their success."
Aster Data Systems has raised $22 million in funding to date, from venture capitalists JAFCO, Sequoia, Cambrian Ventures, and First-Round Capital, as well as industry visionaries including David Cheriton, Rajeev Motwani and Ron Conway.
About Aster Data Systems
Aster Data Systems is a proven leader in high-performance analytic database systems for frontline data warehousing - bringing deep insights on data analyzed on clusters of low-cost commodity hardware. The Aster nCluster database cost-effectively powers frontline analytic applications for companies such as MySpace, aCerno (an Akamai company), and ShareThis. Running on low-cost off-the-shelf hardware, and providing 'hands-free' administration, Aster enables enterprises to meet their data warehousing needs within their budget. Aster is headquartered in Redwood City, California and is backed by Sequoia Capital, Cambrian Ventures, and First-Round Capital. For more information please visit http://www.asterdata.com, or call 650-232-4400.
About JAFCO Ventures
Based in Palo Alto, California, JAFCO Ventures is a venture capital partnership focused on companies that are emerging leaders in the communications, Internet, semiconductor and software industries. JAFCO Ventures was formed in 2003 and currently manages more than $350 million in capital. The fund's charter is to invest in venture opportunities with true breakout potential where JAFCO Ventures can meaningfully add value with capital, the experience of seasoned venture capital investors, and the deployment of our Asia business development team, to help portfolio companies generate revenue from customers in Japan and other parts of Asia. For more information, visit http://www.jafco.com.
Aster Data Systems, Aster nCluster and the Aster logo are registered trademarks of Aster Data Systems. All other brands and trademarks referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders. Statements herein are based on normal operating conditions and are not intended to create any implied warranty of merchantability for fitness for a particular purpose. Aster Data Systems reserves the right to modify at any time without notice these statements, our services, products, and their warranty and performance specifications.