Garantia Data closes $9M Series A round
Newly named RedisDB looks to capture 15% of the NoSQL market bringing in revenues of $150M
Garantia Data, the Israeli startup specializing in Cloud based NoSQL storage, announced the closing of a $9M Series A round led by Bain Capital Ventures and Carmel Ventures
Garantia Data is currently catering to over 1,000 paying customers for its Cloud services. Garantia is currently available over public Cloud environments including Amazon Web Services (AWS) and Windows Azure, as well as platform-as-a-service (PaaS) providers such as Heroku and AppFog. The company’s latest initiative is the introduction of their enterprise-class Redis service. Its launch will mean the expansion of Garantia’s current market base to developers and enterprise IT organizations looking for a far larger scale of in-memory (RAM-based) NoSQL services.
According to the company, Garantia rates among the top three databases selected for new applications and is expected to capture 15% of the NoSQL market in the next few years. The company sites a 451 Research pole predicting that the NoSQL market will break the $1B threshold come 2016. If these numbers hold true, this would mean Redis DB could be expected to be pulling in $150M in revenues within a projectable future. That’s quite a forecast to live up to, but the new investors do not seem too daunted by their prospects. On the contrary, Ronen Nir, general partner over at Carmel Ventures seems quite confident:
“The comprehensive technology developed by Garantia Data opens the door for true in-memory NoSQL computing, and is a game-changer. I look forward to joining the board, and helping to advise the company on achieving its potential.”
Salil Deshpande, Managing Director at Bain was equally optimistic about Garantia’s capabilities:
“Garantia rules in-memory NoSQL. It is among the top three database choices by developers and has become a cornerstone of new applications. We invested in Garantia Data because the reliability and painless scalability of their commercial Redis offering makes Garantia adoption feasible for enterprises.”
Garantia Data was founded in 2011 by Ofer Bengal and Yiftach Shoolman. The company employs 12 people at their offices in Ramat HaChayal – Tel Aviv, Israel where they conduct operations amongst their startup peers in a loosely supportive structure created by The Time incubator. This latest round of funding adds to a $3.8M seed investment by Zohar Gilon and The Time, bringing the company’s total investment to date to just under $13M.
Photo Credit: Shutterstock/ NoSQL over SQL