In-memory enterprise database platform startup VoltDB raises $10 million Series C funding to accelerate growth and meet demand for 5G data requirements
According to Gartner, nearly two-thirds of organizations will be affected by the device densification and the continuous connectivity offered by 5G, driving many enterprises to deploy the next-generation network by as early as 2020. By deploying 5G, enterprises will capitalize on Industrial IoT, machine learning, real-time KPI management and enhanced analytics to power the process automation and optimization required to compete in today’s digital economy. The need for a modern architecture that combines data management, stream processing, decision making and corrective actions at increasing speeds and scale is critical for global enterprises.
Enter VoltDB, an in-memory SQL enterprise database platform that combines streaming analytics with transaction processing. VoltDB is currently the the only enterprise-grade data platform on the market that meets the real-time streaming data requirements of 5G-powered applications.
Today, VoltDB announced it has secured $10 million in Series C Funding to accelerate growth and meet demand for 5G data requirements. With the investment, VoltDB will empower enterprise organizations across the globe to capitalize on 5G networks, enabling real-time decisions and accelerating data-driven digital transformations.
Founded in 2009 by a team of database experts, including Dr. Michael Stonebraker, winner of the ACM Turing award, David Flower, John Hugg, and Scott Powers, the Bedford, Massachusetts-based VoltDB powers applications that require real-time decisions on streaming data. By immediately connecting insights with action, VoltDB enables a more agile, intelligent and data-driven enterprise.
“As 5G becomes more prevalent globally, enterprise organizations must evolve from latency-prone batch processing to intelligently act on business events in real-time. The influx of streaming data from multiple sources and in different formats coupled with the move to the cloud is forcing enterprises to break down monolithic applications into microservices to improve operational agility,” said David Flower, CEO of VoltDB.
“VoltDB provides a proven in-memory technology to enable complex, fast decisions in Business Support Systems (BSS) and Operations Support Systems (OSS) for Communication Service Providers (CSPs). We are excited to bring these same capabilities to enterprises and technology partners in other industries, enabling the development of 5G-powered applications to meet the new caliber of demands for real-time analytics, decisions and proactive actions.”
VoltDB is currently the only data platform designed to support mission critical applications at the intersection of 5G and stream processing, all in a cloud native deployment. VoltDB’s integrated smart streaming capabilities in a single platform enable enterprises and industrial organizations to bring the benefits of real-time decision making supported by machine learning closer to the edge.
To deliver on the scalability promises and stateless needs of a microservices architecture, it is necessary for the data platform to go beyond simple data storage and incorporate streaming data processing and state management. By combining context, real-time analytics, low latency and strong consistency for 5G data streams, VoltDB is the only platform that enables enterprises to execute and act on sophisticated decisions in milliseconds.