ScyllaDB, a startup that specializes in high-throughput, low-latency database technology, has secured $43 million in funding to support its expansion plans. Led by Eight Roads Ventures, the funding round saw participation from AB Private Credit Investors, AllianceBernstein, TLV partners, Magma Ventures, and Qualcomm Ventures. The capital will be used to accelerate ScyllaDB’s momentum and expand its team.
ScyllaDB’s CEO, Dor Laor, highlighted the increasing appetite for databases among disruptors who are dealing with vast amounts of data to deliver innovative user experiences. The company’s NoSQL database technology offers flexible data storage and retrieval mechanisms, providing greater engineering flexibility and improved performance compared to traditional relational databases.
NoSQL databases like ScyllaDB are widely used in applications such as ad serving, artificial intelligence (AI), machine learning, recommendation engines, fraud detection, and analyzing data from Internet of Things (IoT) devices. Ventana’s 2022 survey revealed that 22% of organizations are already using NoSQL databases in production, with an additional 34% planning to adopt them within the next two years.
ScyllaDB differentiates itself from other NoSQL vendors due to its architectural advantages, including the ability to process millions of operations per second with low latency. The database can run across multiple clouds, hybrid cloud setups, or on-premises, and automatically tunes I/O and CPU performance to prioritize workloads.
ScyllaDB’s technology has already attracted more than 400 companies, including Discord, Epic Games, and Palo Alto Networks. Since its founding in December 2012, the company has experienced an impressive 800% revenue growth.
ScyllaDB’s unique architecture takes full advantage of modern cloud resources, delivering impressive efficiency and price-performance, stated Laor. The company aims to help fast-growing teams provide lightning-fast user experiences at scale.
Although ScyllaDB faces competition from other NoSQL vendors like ArangoDB, Redis Labs, and Crate.io, as well as larger players such as MongoDB, Amazon’s DynamoDB, and Couchbase, its distinctive features have proven appealing to customers.
With its latest funding round, ScyllaDB aims to further solidify its position in the NoSQL market, which is expected to reach $35.7 billion by 2028.
As the demand for high-performance databases continues to grow, ScyllaDB’s expansion plans and innovative technology position it well to meet the industry’s evolving needs.
