Aster Data Closes $30 Million
Series C Financing
Explosive Growth and Market Leadership Attracts New and Existing Investors
San Carlos, CA - September 22, 2010 - Aster Data, a market leader in big data management and advanced analytics, today announced that it has closed a $30 million Series C round of financing led by both new and existing investors. The company will use the new funding to accelerate growth, scale operations, and expand its global market share in the $20 billion database market - a market that is experiencing rapid growth as a result of both the explosion in data volumes across organizations and the urgent need to deliver a new class of analytics and data-driven applications. The Series C round of funding includes previous investors Sequoia Capital, JAFCO Ventures, Institutional Venture Partners, Cambrian Ventures, as well as an additional new strategic investor. Also investing in this round is early investor David Cheriton, who previously backed high-growth companies including Google and VMware, and co-founded several successful technology companies.
Today’s Series C funding announcement underscores a year of strong innovation, execution, and overall momentum for the analytic database company. Key milestones include.
Strong sales growth: Since 2008, Aster Data has doubled revenue year-over-year and secured key customers that leverage Aster Data’s platform to address the big data management problem including MySpace,
Barnes & Noble, and Akamai. Like so many organizations today,
Aster Data’s customers are experiencing explosive data growth across their organizations and recognize the need for rich, advanced analytics that give them deeper insights from their data.
Key executive hires: Quentin Gallivan, former CEO of both PivotLink and Postini and EVP of worldwide sales at Verisign, recently joined the company as Chief Executive Officer. In addition, earlier this year, John Calonico, previously at Interwoven, BEA, and Autodesk, joined as Chief Financial Officer; and Nitin Donde, formerly an executive at EMC and 3PAR, joined as Executive Vice President Engineering. The strength and experience of Aster Data’s management team helps further establish a strong operational foundation for growth in 2010 and beyond.
Industry recognition: Aster Data was positioned in the “Visionaries” Quadrant of Gartner, Inc.’s Data Warehouse Database Management Systems Magic Quadrant, published 2010*; was recently named 2011 Tech Pioneer by the World Economic Forum; was named “Company to Watch” in the Information Management category of TechWeb’s Intelligent Enterprise 2010 Editors’ Choice Awards; and was awarded the 2010 San Francisco Business Times Technology and Innovation Award in the Best Product and Services Category.
Product Innovation: Aster Data continues to deliver ground-breaking capabilities to address the big data management and advanced analytics market need. Its recent announcement of Aster Data nCluster 4.6 includes a column data store, making it the first hybrid row and column MPP DBMS with a unified SQL and MapReduce analytic framework for advanced analytics on large data sets. This year, Aster Data also delivered the most extensive library of pre-packaged MapReduce analytics totaling over 1000 functions, to ease and accelerate delivery of highly advanced analytic applications.
Aster Data’s analytic database, also called a ‘Data-Analytics Server’ is specifically designed to enable organizations to cost-effectively store and analyze massive volumes of data. Aster Data leverages the power of commodity, general-purpose hardware, to reduce the cost to scale to support large data volumes and uniquely allows analysis of all data ‘in-database’ enabling richer and faster processing of large data sets. Aster Data’s in-database analytics engine uses the power of MapReduce, a parallel processing framework created by Google.
”The funding we received in our Series C round is a strong endorsement of Aster Data’s market leadership position and the high growth potential of the big data market," said Quentin Gallivan, Chief Executive Officer, Aster Data. "The Aster Data team has executed exceptionally well to-date and I am excited to have the resources to accelerate the growth of the company as we expand our operations and execute aggressively across all fronts."
* Gartner, Inc., Magic Quadrant for Data Warehouse Database Management Systems, Donald Feinberg, Mark A. Beyer, January 28, 2010. The Magic Quadrant is copyrighted 2010 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner’s analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the “Leaders” quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Aster Data
Aster Data is a proven leader in big data management and big data analysis for data-driven applications. Aster Data’s nCluster is the first MPP data warehouse architecture that allows applications to be fully embedded within the database engine to enable ultra-fast, deep analysis of massive data sets. Aster Data's unique “applications-within™” approach allows application logic to exist and execute with the data itself. Termed a “Data-Analytics Server,” Aster Data’s solution effectively utilizes Aster Data’s patent-pending SQL-MapReduce together with parallelized data processing and applications to address the big data challenge. Companies using Aster Data include Coremetrics, MySpace, Akamai, Full Tilt Poker, and ShareThis. Aster Data is headquartered in San Carlos, California and is backed by Sequoia Capital, JAFCO Ventures, Institutional Venture Partners, and Cambrian Ventures, as well as industry visionaries including David Cheriton and Ron Conway. For more information please visit http://www.asterdata.com, or call 1.888.Aster.Data.
Aster Data, Aster Data nCluster, SQL-MapReduce, the Aster logo, and Applications-Within™ are registered trademarks of Aster Data. All other brands and trademarks referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders.
Stacey Collins Burbach
Point Communications Group for Aster Data