BOSTON--(BUSINESS WIRE)--ScaleBase, the company that keeps next gen apps and business-critical databases up-and-running, today announced $10.5 million in Series B funding from three of the most widely respected technology investors: Bain Capital Ventures, Ascent Venture Partners and Cedar Fund. Bain Capital Ventures and Ascent Venture Partners led the round, with participation from existing investor, Cedar Fund.
“Market demand for uninterrupted database performance is growing at an unprecedented rate as thousands of new online and mobile apps launch daily, and companies struggle to keep up with the massive transactional processing requirements of big data,” said Ram Metser, newly named CEO and former executive chairman at ScaleBase. “This investment is a clear validation of the tremendous market opportunity and our solution.”
“Delivering real-time database scalability dramatically improves application performance and availability while also reducing costly over-provisioning and delivering a demonstrable customer ROI,” said Ben Nye, managing director at Bain Capital Ventures.
ScaleBase – which backs some of the fastest growing databases, including Mozilla’s and one of the world’s largest mobile providers – is raising the bar on database performance. The company’s Data Traffic Manager delivers real-time database scalability and availability – without changing the existing ecosystem – eliminating worries around database failures and excessive infrastructure costs. Doron Levari, founder and CTO will continue to be heavily focused on product innovation during the company’s next phase of growth.
“Organizations worldwide are struggling to meet their customers’ ever-increasing expectations for database scalability,” said Geoff Oblak, general partner at Ascent Venture Partners. “With their innovative database virtualization solution, ScaleBase has an explosive market opportunity to change the way companies create and launch next gen apps. We’re also thrilled to work again with Ram Metser and other team members again on another successful venture.”
The new funding will fuel product innovation, research and development, and sales and marketing expansion. Ben Nye and Geoff Oblak will join Motti Vaknin, partner at Cedar Fund on ScaleBase’s board of directors.
“Having worked with ScaleBase founders from seed stage, we’ve seen firsthand how the team’s deep understanding of the market is creating an industry leading solution,” said Motti Vaknin. “We’re excited to have Bain and Ascent join Cedar Fund in accelerating ScaleBase’s growth.”
About Bain Capital Ventures
Bain Capital Ventures is the venture and growth affiliate of Bain Capital, headquartered in Boston. Bain Capital Ventures has over $2 billion under management and invests in healthcare, business services, internet, consumer and retail, mobile and software companies across all stages of a company's development. Bain Capital Ventures leverages the consulting and operating backgrounds of its professionals, broad firm resources, and a 28-year heritage of successful investing to partner with entrepreneurs and management teams to build large, profitable businesses that are leaders in their space. Bain Capital's history of investing in venture and growth-stage companies dates back to 1984. Since then, the firm has made over 125 venture and growth-stage investments in companies such as Archer Technologies, DoubleClick, Gartner Group, iPay Technologies, Liberty Dialysis, LinkedIn, MinuteClinic, ProfitLogic, Staples, SolarWinds and Taleo. Learn more at www.baincapitalventures.com.
About Ascent Venture Partners
Ascent Venture Partners (www.ascentvp.com) is dedicated to investing in innovation for the enterprise. In backing more than 100 early-stage, emerging technology companies since 1985, Ascent has remained committed to its mission of partnering with exceptional entrepreneurs striving to build innovative market leaders. Ascent’s investments have yielded powerful results generating more than $10 billion in enterprise value, which speaks to the firm’s deep knowledge, experience, commitment, and networks. The Ascent investment team manages five venture funds with total commitments of more than $450 million, and is located in Boston, Mass.
About Cedar Fund
Cedar Fund is an international venture capital firm with offices in Israel and Boston that invests in high technology Israel-related companies. With its investment track record and over $325 million under management, Cedar Fund is among the most notable and active venture firms focusing on Israel-related investments. Cedar Fund invests in outstanding entrepreneurs pursuing high growth markets with distinguished technologies in enterprise software, Internet, mobile, digital media, CleanTech, networking and telecommunications. While Cedar invests in all stages, it concentrates on early stage, including Pre-Seed® (pioneered by Cedar and includes companies such as BigBand and Onaro), seed and first round (including companies such as Guardium). For more information about Cedar Fund, please visit www.cedarfund.com.
ScaleBase enables next generation apps – and the massive transactional processing requirements of big data – all without requiring any changes to the existing infrastructure.
The ScaleBase Data Traffic Manager dynamically scales databases to meet changing business demands. ScaleBase virtualizes complex database environments, providing a unified point of management while delivering real-time elasticity and increasing availability. ScaleBase is an authorized Amazon and Oracle Partner and its customers span a wide range of industries including online gaming companies, digital media providers, social networks and enterprises. The company is venture-backed and based in Newton, MA. For more information, visit www.scalebase.com.