PremjiInvest backs US-based Big Data-focused enterprise software firm DataStax

PremjiInvest backs US-based Big Data-focused enterprise software firm DataStax

VCCircle Datastax logo

California-based software firm Datastax Inc which operates under the DataStax banner and manages databases, has raised $106 million in Series C funding round led by Kleiner Perkins Caufield & Byers (KPCB), as per a statement.

Others who participated in this round include existing investors besides ClearBridge Investments, Cross Creek Advisors, Wasatch Funds, PremjiInvest and Comcast Ventures, who joined as new investors.

This round takes the total investment in the firm to $190 million.

With this new round of funding, DataStax expects to accelerate growth, drive enterprise adoption and innovation in Apache Cassandra, and will further invest in the developer community, which now spans over 80 countries. DataStax also plans to continue its momentum in Europe, Asia and Japan by growing engineering, sales and marketing teams in those regions.

Founded in 2010, DataStax has over 500 clients including the likes of Intercontinental Hotels Group, eBay, Adobe and Intuit from 50 countries across the world. It has more than 350 employees across offices in Santa Clara, Austin, London, Paris, Sydney and Tokyo.

While the company did not disclose the exact revenue, it mentioned that it has grown more than 125 per cent year on year.

"The scalability, manageability and cost effectiveness of DataStax are not only timely, but critical at a time when companies are rapidly building out new applications and customer experiences as a competitive advantage. We are excited about investing in the leader in this radical shift," said KPCB Partner Matt Murphy.

Goldman Sachs acted as a financial advisor to the company in this round, which was disclosed last week.

PremjiInvest, the personal investment arm of Wipro chief Azim Premji, has been investing across sectors for the last few years. But it had largely stayed away from technology space.

However, over the last one year has backed e-com firms such as Myntra (now merged with Flipkart) and Snapdeal. This is the first publicly disclosed investment by the firm in an overseas business.

(Edited by Joby Puthuparampil Johnson)

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