New round of funding to help ScyllaDB – the monstrously fast and scalable NoSQL database – accelerate momentum with MongoDB customers facing barriers to scale
SUNNYVALE, Calif. and HERZLIYA, Israel, Oct. 17, 2023 (GLOBE NEWSWIRE) — ScyllaDB, the database for data-intensive apps that require high throughput and predictable low latency, has raised $43M in funding, led by global VC Eight Roads Ventures and AB Private Credit Investors, the private corporate credit and growth stage capital platform of AllianceBernstein. Additional investors in ScyllaDB include TLV partners, Magma Ventures and Qualcomm Ventures. These funds will enable ScyllaDB to accelerate its momentum with MongoDB customers who are wrestling with scale.
ScyllaDB, used by 400+ global companies such as Discord, Epic Games, and Palo Alto Networks, has been experiencing a surge in demand from teams replacing MongoDB as they hit barriers to scale. Across industries, R&D teams are increasingly realizing that ScyllaDB’s dramatically different database architecture delivers better performance and horizontal scalability for data-intensive workloads. In an independent benchmark, ScyllaDB achieved up to 68X lower latencies vs. MongoDB, up to 20X higher throughput, and 19X better price/performance ratio. Overall, the study compared a total of 133 performance measurements and ScyllaDB outperformed MongoDB in 132 of 133 measurements. These results build upon previous benchmarks vs. Cassandra, DynamoDB, and other databases that ScyllaDB is commonly used to replace.
This funding comes during a momentous year for ScyllaDB. Earlier this year, the company announced 100% year-over-year growth in its Database-as-a-Service (DBaaS) offering and 800% overall revenue growth that landed ScyllaDB a spot in the Deloitte Technology Fast 500. Last month, ScyllaDB was named Google Cloud Customer of the Year. And tomorrow, ScyllaDB will be hosting over 15,000 engineers at P99 CONF, the largest conference of its kind.
Davor Hebel, Managing Partner at Eight Roads Ventures commented, “The NoSQL database market size has reached $13 billion, still growing 21% year-over-year, making it one of the largest and fastest growing software segments. ScyllaDB is uniquely positioned to help companies address the challenges of continued data proliferation and the performance needs of modern applications. We have been impressed by the team’s execution since our original investment in 2019 and are excited to deepen our partnership further.”
“ScyllaDB is architected through its shard-per-core design to capitalize on continuing hardware innovations,” explained Dor Laor, ScyllaDB Co-Founder and CEO. “Other NoSQL databases are effectively insulated from the underlying hardware. With the amount of data doubling every year and new usages driven by AI, customers require fast, scalable and cost-effective solutions – and ScyllaDB displaces leading database vendors on a daily basis.”
About ScyllaDB
ScyllaDB is the database for data-intensive apps that require high throughput and low latency. It enables teams to harness the ever-increasing computing power of modern infrastructures – eliminating barriers to scale as data grows. Unlike any other database, ScyllaDB is built with deep architectural advancements that enable exceptional end-user experiences at radically lower costs. Over 400 game-changing companies like Disney+ Hotstar, Expedia, Discord, Crypto.com, Zillow, Starbucks, Comcast, and Samsung use ScyllaDB for their toughest database challenges. ScyllaDB is available as free open source software, a fully-supported enterprise product, and a fully managed service on multiple cloud providers. For more information: ScyllaDB.com
Media Contact:
Wayne Ariola
wayne.ariola@scylladb.com
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