Aster Data Systems Extends Oversubscribed Series B Funding to $17 Million
IVP Adds $5 Million in Additional Funding for Proven Leader in Frontline Data Warehousing
San Carlos, Calif. – February 25, 2009 – Aster Data Systems, a proven leader dedicated to providing the best analytic databases for frontline data warehousing, has closed an extension to its oversubscribed Series B round with an additional $5 million from Institutional Venture Partners (IVP). IVP has previously invested in notable companies including MySQL, Juniper Networks, Foundry Networks, ArcSight, ComScore, Netflix, Polycom, and WebEx. The additional funding brings the total Series B financing to $17 million, led by JAFCO Ventures, and including return backers Sequoia Capital, Cambrian Ventures and First Round Capital.
Aster provides high-performance analytic database systems for frontline data warehousing – bringing deep insights on data analyzed on clusters of low-cost commodity hardware. The company pioneered a first in the database world - Aster In-Database MapReduce, giving customers the ability to implement flexible MapReduce functions for parallel data analysis and transformation of massive amounts of data inside the database. Earlier this year, the company announced Aster nCluster’s Cloud Edition on Amazon Web Services and AppNexus, having successfully gained customers on both.
"We believe Aster is uniquely positioned to lead the next generation of data warehousing," said Steve Harrick, General Partner at IVP, and a member of the Forbes 2009 Midas List. Steve also led IVP's investment in MySQL that was recently acquired by Sun Microsystems for $1BN. "Aster's impressive technology and increasing market share are what we are looking for in the companies that we invest in. Alongside their growing customer base, our investment is a testament to the recognition of Aster as a leader in the marketplace."
“IVP has a strong record of backing some of the most influential technology companies of our era, and we welcome them as our newest investor during this exciting time for Aster,” said Mayank Bawa, CEO and co-founder of Aster. “We saw great success in the past year, and expanding this financing round will help us continue to innovate and grow aggressively, with a nice cushion to ride the economic waves, to provide the best data warehousing engine on the market."
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 San Carlos, California and is backed by Sequoia Capital, JAFCO Ventures, IVP, Cambrian Ventures, and First Round Capital, as well as industry visionaries including David Cheriton, Rajeev Motwani and Ron Conway. For more information please visit www.asterdata.com, or call 650-232-4400.
About Instituional Venture Partners (IVP)
With more than $2.2 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital firms in the United States. The partnership is currently investing IVP XII, a $600 million later-stage fund focused on investments in rapidly-growing technology and media companies. Founded in 1980, IVP has a 28-year IRR of 43.2% and has invested in over 300 companies, 85 of which have gone public. IVP specializes in venture growth investments, industry rollups, founder liquidity and select public market transactions. Since its inception, IVP has invested in such notable companies as ArcSight (ARST), Ask Jeeves (IACI), Aspect Communications (ASPT), At Road (ARDI), Business.com (RHD), Clarify (CLFY), ComScore (SCOR), Concur Technologies (CNQR), Danger (MSFT), Digital River (DRIV), Form Factor (FORM), Foundry Networks (FDRY), Juniper Networks (JNPR), LSI Corporation (LSI), Mobile 365 (SY), MySQL (JAVA), Netflix (NFLX), Polycom (PLCM), Quigo (TWX), Seagate (STX), Synchronoss (SNCR), TiVo (TIVO) and Websense (WBSN). IVP has offices in Menlo Park and San Francisco, California. For more information, visit www.ivp.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.
Michelle Van Jura