[Funding] DaaS Platform Yugabyte Raises $48 Million led by Lightspeed Venture Partners and others

Database as a Service provider startup, Yugabyte has announced a $48 million funding round led by Lightspeed Venture Partners. Additionally, Greenspring Associates, Dell Technologies Capital, Wipro Ventures and 8VC also participated in the round. Previously, the company had raised $30 million in June 2020. This fundraise brings the total funding of Yugabyte to $103 million.

Yugabyte aims to use the funding to expand its R&D, sales and customer functions in the EMEA and APAC markets. Further, the company aims to hire people to support its aggressive expansion plans. It also aims to accelerate enterprise adoption of its commercial products. The company had also recently acquired Falarica.io to accelerate its development and recruiting efforts in the APAC region.

About Yugabyte

Yugabyte is an open-source platform with its permissive Apache 2.0 license. Its open-source community members have now deployed more than 600,000 clusters to-date. The project’s contributor count is now over 170 and it has over 2,600 community Slack members. Further, the company has granted over 300 certifications in the last 90 days. The Yugabyte Platform is a self-managed private database-as-a-service offering. It is available on any public, private, or hybrid cloud or Kubernetes infrastructure.

“Today’s business environment demands flexibility and elasticity from database solutions. Distributed SQL is now critical for any organization where developer productivity and application uptime are top priorities. YugabyteDB makes something as fundamental and feature-rich as PostgreSQL truly cloud-native, resilient, elastic, and distributed,” said Kannan Muthukkaruppan, Co-Founder and President, Yugabyte. “With companies of all kinds accelerating their digital transformation initiatives, technologies that help them accelerate, like YugabyteDB, are in high demand. This new round of funding will position Yugabyte to meet this increased enterprise demand and power our global expansion into key markets.”

“Several different trends are intersecting in the enterprise—the exponential growth of data, the acceleration of digital transformation, and the move to the cloud-forcing organizations to rethink how they manage their data and creating an opportunity for organizations like Yugabyte,” said Ravi Mhatre, Partner at Lightspeed Venture Partners. “With its unique combination of advanced RDBMS features, high availability, horizontal scalability, and ability to distribute data anywhere in the world, YugabyteDB is already the beating heart of many mission-critical global applications and will soon underpin many more. We're excited about this next stage of the company's growth.”