Basho Technologies, creator of the Riak NoSQL key-value database platform, today announced the finalization of $25M in Series G funding led by existing investor Georgetown Partners. In addition to the funding news, Basho revealed details of record growth including sequential growth of 62 percent and 116 percent in Q3 and Q4 of 2014 respectively. 2014 represented a landmark year for Basho given that it shipped Riak 2.0, Riak CS 1.5 and appointed Adam Wray, former CEO of Tier 3, as CEO. In the same year, Basho replaced Oracle as the database platform for the National Health Service of UK and deepened its relationship with The Weather Company as noted below by Bryson Koehler, executive vice president and CITO for The Weather Company:
The amount of data we collect from satellites, radars, forecast models, users and weather stations worldwide is over 20TB each day and growing quickly. This data helps us deliver the world’s most accurate weather forecast as well as deliver more severe weather alerts than anyone else, so it is absolutely mission critical and has to be available all of the time. Riak Enterprise gives us the flexibility and reliability that we depend on to enable over 100,000 transactions a second with sub 20ms latency on a global basis.
Here, Koehler remarks on the ability of Riak Enterprise to handle “over 100,000 transactions a second” with latencies less than 20 ms. Importantly, The Weather Company’s daily data collection rate of 20 TB a day illustrates the massive volumes of data that Enterprise Riak can aggregate for archival and analytic use cases. As told to Cloud Computing Today in an interview with Basho CEO Adam Wray, Riak also gained traction in verticals such as gaming, healthcare and financial services in 2014 with much of its uptake propelled by trends in the technology industry marked by increased adoption of Big Data, distributed systems and applications in the cloud computing space and the growth of the internet of things vertical. Wray further remarked that Riak stands strongly positioned to reap the benefits of increased stakeholder awareness about the value of key-value stores and concepts such as eventual consistency. Today’s capital raise brings the total funding raised by Basho to $65M. With an extra $25M in the bank and an enviable roster of enterprise customers out of the gate, the NoSQL space should expect Basho to build steadily upon its success in 2014 by gaining even more market traction amongst Fortune 50 customers and staking out its positioning amongst the likes of MongoDB, MarkLogic, Couchbase and DataStax, with a particular focus on sharpening its differentiation in comparison to other key-value store databases such as Couchbase and DataStax.
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