MemSQL has raised $30m in its Series D funding round led by new investors GV and Glynn Capital.
Other participants to the round included existing backers Accel, Caffeinated Capital, Data Collective, and IA Ventures.
California-headquartered MemSQL is a database for real-time applications, which runs transactions and analytics concurrently. Its services are used across financial services, media and communications, retail and e-commerce, government and public sector, high technology and energy and utilities sectors.
Banks, asset managers, analysts and advisers use the platform to manage and analyse their portfolios. Users are able to improve their insights across their entire portfolio and manage the risks involved, through a real-time dashboard.
This capital injection will be used to grow the company’s engineering, support, customer management, and operations teams.
GV general partner Adam Ghobarah said, “MemSQL has achieved strong enterprise traction by delivering a database that enables operational analysis at unique speed and scale, allowing customers to create dynamic, intelligent applications.”
Earlier this year, MemSQL announced its commercial bookings reaching a 200 per cent YoY growth.
This funding round brings the company’s total funding efforts to $110m. Prior to this investment, the company collected a $36m Series C in 2016, from backers including REV, Caffeinated Capital, Accel Partners, Khosla Ventures, and Data Collective, among others.
GV has already made a handful of deals in the FinTech space this year. Last month, the firm led the $15m Series C round into employee travel platform Rocketrip. The company rewards employees for smarter traveling, by letting them keep a portion of the savings they make.
Other transactions from GV this year include a contribution to cryptocurrency Basis’ $133m round and workforce health management company Collective Health’s $110m round.
Copyright © 2018 FinTech Global
