Open supply distributed SQL database vendor Yugabyte marked a serious section of its evolution, elevating $48 million in a Sequence B-1 spherical of financing led by Lightspeed Enterprise Companions, bringing complete funding up to now for the corporate as much as $103 million.
The seller, primarily based in Sunnyvale, Calif., is amongst a gaggle of rising distributors within the cloud-native database market phase. Based in 2016, Yugabyte develops an open supply distributed SQL database that’s appropriate with the favored open supply PostgreSQL database.
Final 12 months was busy for Yugabyte, with a $30 million funding spherical in June and a brand new CEO, former Greenplum Software program CEO Invoice Cook dinner, taking up the position from co-founder Kannan Muthukkaruppan.
In the meantime, the tempo of improvement at Yugabyte has not slowed in 2021. This 12 months has been busy with the YugabyteDB 2.4 replace on Feb. 12 bringing assist for Apache Spark 3.0 to the platform.
On this Q&A, Muthukkaruppan, now president, discusses the evolution of the distributed SQL database vendor and the place it’s headed.
Why is Yugabyte elevating new funding now and is an IPO subsequent?
Kannan Muthukkaruppan: This funding is actually simply constructing on the