DataStax, a start-up based in Santa Clara, California, secured $115 million for its real-time data platform.
The funding comes on the heels of strong first quarter company momentum driven by the growing popularity of Astra DB, which is built on the powerful open source Apache Cassandra™ database. Astra DB simplifies cloud-native application development and delivers pay-as-you-go pricing with the freedom and agility of multi-cloud and open source. With the new funding, DataStax will double down on development of Astra DB, with new capabilities including additional integration with Astra Streaming to enable businesses to easily activate all their real-time data — both data “at rest” in a database and streaming data “in motion.”
The new funding round was led by the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs), with participation from RCM Private Markets fund advised by Rokos Capital Management (US) LP, Singapore-based global investor, EDB Investments Pte. Ltd. and DataStax's existing investors including Crosslink Capital, Meritech Capital Partners, OnePrime Capital and other current investors. DataStax will use the funding to accelerate global expansion and development of its Astra DB multi-cloud database and its Astra Streaming streaming service, which are part of the company’s open data stack for building and running real-time applications on any cloud, at massive scale, anywhere in the world, with zero downtime.
"We see the transformative power of real-time applications across industries on a daily basis and among customers such as The Home Depot, Verizon, and Capital One," said Chet Kapoor, chairman and CEO of DataStax. "What's clear is that we're only in the early stages of what's possible with new data-driven experiences that will serve a wide range of human needs, create virtuous cycles between companies and their customers, and move markets. We appreciate that our investors believe in our vision — even in this economy, we were able to raise significant capital at a substantial premium over the round we completed just a year ago."
