SALT LAKE CITY--(BUSINESS WIRE)--Sorenson Capital today announced that it led a $30 million Series F funding round in Couchbase, the leading database provider for the digital economy. Rob Rueckert, managing director at Sorenson Capital, will join the Couchbase board of directors. Current investors also participated in the round, including Accel Partners, Adams Street Partners, Ignition Partners, Mayfield Fund, North Bridge Venture Partners and West Summit.
The investment highlights Sorenson Capital’s focus on disruptive technology companies seeking expansion capital to accelerate their existing growth. Couchbase will deploy the capital to accelerate sales, expand technical support, and enhance engineering initiatives while the company extends its leadership position as the de facto standard operational database for digital economy businesses.
“We’re thrilled to partner with Couchbase,” said Rueckert. “Couchbase is transforming the way industry leaders like AT&T, Walmart, Dixons and Nike deliver great customer experiences and do business in the digital economy. With a top-tier management team and a best-in-class product, Couchbase is well positioned to continue to lead the NoSQL market in innovation and growth.”
Sorenson Capital’s investment follows a year of remarkable growth and industry leading product innovation for Couchbase. In 2015, the company nearly doubled sales and continued to achieve impressive enterprise renewal rates above 90 percent.
“We want investors who understand our technology and business, can help develop the right strategy and are committed to our long-term success,” said Couchbase CEO Bob Wiederhold. “Sorenson Capital took the time to develop a deep relationship with us long before they invested, making it easy to choose them as a partner.”
A recent report by 451 Research shows the operational database market is expected to reach almost $50 billion by 2019. Companies adapting to the digital economy drive this growth. Whether established leaders launching new digital economy businesses, or start-ups building from scratch, digital economy businesses are choosing NoSQL technology like Couchbase as the platform for their web, mobile and IoT applications.
About Sorenson Capital
Sorenson Capital (www.sorensoncapital.com) is a private equity firm, founded in 2003, with a core strength in providing expansion capital to companies with strong strategic positions at unique inflection points in their growth cycles. Sorenson Capital has more than $1 billion in capital under management and typically makes investments of $10 to $40 million.
Couchbase delivers the database for the digital economy. Developers around the world choose Couchbase for its advantages in data model flexibility, elastic scalability, performance, and 24x365 availability to build enterprise web, mobile, and IoT applications. The Couchbase platform includes Couchbase, Couchbase Lite - the first mobile NoSQL database, and Couchbase Sync Gateway. Couchbase is designed for global deployments, with configurable cross data center replication to increase data locality and availability. All Couchbase products are open source projects.
Couchbase customers include industry leaders like AOL, AT&T, Cisco, Comcast, Concur, Disney, Dixons, eBay, General Electric, Marriott, Nordstrom, Neiman Marcus, PayPal, Ryanair, Rakuten/Viber, Tesco, Verizon, Wells Fargo, as well as hundreds of other household names.
Couchbase investors include Accel Partners, Adams Street Partners, Ignition Partners, Mayfield Fund, North Bridge Venture Partners, Sorenson Capital and West Summit.