Real-time cloud analytics company Rockset announced its successful Series B run with a $40 million funding. The company has now raised a combined $61.5 million, reports Tech Crunch.
Sequoia led the Series B investment round for the cloud platform. Greylock also joined the recent investment round. Both companies also financed Rockset during its Series A bid.
Rockset is a cloud-native analytics company which provides real-time analytics and indexing. It was founded in 2016 by the developers of RocksDB.
According to the co-founder and chief executive officer Venkat Venkataramani in an interview with Tech Crunch in 2018, the platform “automatically builds a converged index on any data – including structured, semi-structured, geographical and time series data – for high performance search and analytics at scale.”
Meanwhile, in an email to Venture Beat, Venkataramani said, “Today, every company is a data company building modern applications. The real-time data revolution is already underway, and we are thrilled to be at the forefront of it by making real-time analytics at cloud-scale fast and easy.”
It obtains and ingests information from Amazon Web Services, DynamoDB, Google Cloud Platform, Kafka, Kineses, MongoDB, Snowflake, and more, reveals Venture Beat. Once data is ingested from these fields, these are indexed and compiled to provide fast returns on queries.
By leveraging its suite of solutions, Venture Beat states that customers have the freedom to create custom experiences and supply the Internet of Things (IoT) with an expansive indexing database that provides speedy answers to queries.
For its latest Series B investment, Rockset reportedly impressed investors and customers alike with its new data analytics solution called Query Lambdas. According to Venture Beat, this feature allows customers to develop programs that obtain or consume data with the help of an API.
Moreover, the company also highlighted the addition of a virtual private cloud (VPC) option for its customers. This VPC provides customers with the ability to choose and compute storage on their own. Likewise, VPC also “operates on data within the customers own AWS VPC,” reveals ZD Net.
Following the cash injection to the company, Rockset is planning to expand its firm and grow its reach. Moreover, Venture Beat states the platform is doubling its efforts towards research and product development.
As of writing, the company looks to increase its 30-person company to quadruple the size within 18 months. Moreover, ZD Net states that Rockset is setting its sights towards tripling its current sales while focusing on its product engineering.
