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ParElastic closed a $5.7 million funding round today for its technology to help companies scale their cloud-based database.
Founder and CEO Kenneth Rugg (pictured, above in the red) said the company is delivering a solution so customers won’t need to change an application code or “move off the reliability of tried and true relational database servers.” Rugg is a former vice president at Progress Software, a public company that sells business infrastructure software.
The company raised its first round of financing from General Catalyst Partners with participation from existing investors, including Point Judith Capital. This brings the total financing to $8.7 million.
General Catalyst’s managing director Larry Bohn will join the board. “This presents an opportunity to disrupt the $30 billion relational database industry as traditional IT migrates to the cloud and new cloud-native applications emerge,” he said.
According to Rugg, ParElastic competes with some of the newer NoSQL and NewSQL databases, including MongoDB, NuoDB, or Cassandra. He refers to these databases as “exotic architecture” that companies turn to to when they face scalability challenges in the cloud.
Unlike these new databases, which require migration, ParElastic works by making standard database servers work together as a single virtual database.
Waltham, Mass.-based ParElastic will use the funding to invest in building out its technology, and deliver it as a database as a service.