NoSQL databases, which can accommodate millions of simultaneous users and handle data that is spread across many servers, have attracted a big pile of venture capital. Now Couchbase Inc. has added to it.
One of the biggest of the new NoSQL database companies, which can handle data such as tweets that don’t fit into traditional columns and rows, Couchbase has added another $60 million to its coffers, taking the company’s total funding to $115 million.
The Series E round was led by WestSummit Capital, which has offices in Hong Kong and Beijing in addition to Silicon Valley, and Accel Growth Fund as well as all current investors. The company declined to disclose valuation.
Couchbase is considered in the same category as DataStax Inc., which has raised about $84 million, and MongoDB Inc., which has raised more than $231 million at a valuation of more than $1 billion. All three companies say they are considering going public.
“You’re seeing the leaders separate…and we’ll continue to distance ourselves from the rest of the pack,” Chief Executive Bob Wiederhold said. “It becomes more difficult for others not able to make these kinds of investments to keep up.”
Couchbase, which took its current form in 2011 through a combination of smaller open-source database companies and technologies, started growing more rapidly at the end of 2012, Mr. Wiederhold said, when big Internet companies as well as more traditional companies began to adopt what had previously been considered a grass-roots technology.
NoSQL also became more stable, with more features, the CEO said, and “scalability and performance are where Couchbase shines.” Couchbase has also pushed to develop its mobile offering, which enables users to synchronize data between mobile devices and the cloud. Sales last year grew 400%, he said.
Mayfield Fund Managing Director Robin Vasan, an investor, said Couchbase is the most full-featured of the big NoSQL databases. It has the ability to work both as a document store and a cache and key-value store, meaning users can search for information tied to a specific record, such as a Social Security number.
“Mobile takes them farther,” Mr. Vasan said, adding that there’s room for all three companies to go public.
Several smaller database companies have also raised funds recently. New Enterprise Associates led a $20 million insider round for Aerospike Inc. this month, and Roger Sippl, who in 1980 co-founded one of the original relational database companies, Informix Corp., invested in NuoDB Inc., which calls itself a “NewSQL” company.
Couchbase’s new money will be invested partly in growth in China, where Web and mobile apps are already operating at significant scale and where Couchbase has users, except “it’s culturally different,” Mr. Wiederhold said. “We need to have things like Chinese-language documents and websites…and deep and strong relationships” with customers.
As part of the new funding, WestSummit Managing Partner Raymond Yang joins Couchbase’s board. Other investors who participated in the round include Accel Partners (whose fund is separate from Accel Growth Fund), Adams Street Partners, Ignition Partners, North Bridge Venture Partners and DoCoMo Capital.
Couchbase this month also named Sujan Jain as its chief financial officer. Mr. Jain joined Couchbase from Model N Inc., which went public last year while he was there.Back to all News