The investments, according to the company, will be used to expand the platform’s capabilities, grow its development team, and fulfill marketing and sales plans.
By Polina Chernykh
Updated
3 mins read
Crate.io, the Californian company behind the CrateDB project, has announced that it has raised $11 million in Series A financing round. In addition to the funding, Crate.io has announced the commercial release of its Crate Machine Data Platform and the new version of its CrateDB open source SQL database.
Deutsche Invest Equity and Zetta Venture Partners led the fundraising round with participation from new and existing investors Momenta Partners, Mike Chalfen, Charlie Songhurst, Draper Esprit, Solomon Hykes, and Vito Ventures.
“We are extremely pleased to have achieved several critical fiscal and technical milestones today, all of which reflect our steadfast commitment to meet the needs of our customers as they move into the next generation of machine data,” Christian Lutz, CEO of Crate.io, said in a press-release.
“I would like to thank Zetta Venture Partners, Deutsche Invest Equity and our other investors, whose funding is being used to expand the capabilities of CrateDB well beyond its roots. The introduction of the Crate Machine Data Platform and the innovations in CrateDB 3.0 truly move us up the stack to enterprise actionability, making us a critical component of their data infrastructure and positioning us well for the future.”
CrateDB is a real-time SQL database for analytics of IoT and machine data, including GPS data, sensor data, messages, and logs. With the new version of the platform, machine data applications that were previously found only in NoSQL solutions become available to mainstream SQL developers. The database is developed to improve query throughput of complex data structures linearly together with cluster size, thus making capacity more predictable and affordable.
CrateDB 3.0 comes with a series of changes, such as improved security features, easier database administration, support for virtual tables and sub-queries with update and delete statements, and 100x faster query performance via new algorithms.
By launching the Crate Machine Data Platform, the company allows enterprises to save their time and money required to create data management infrastructure from scratch. The platform helps companies to “put machine data to work even faster, by simplifying the time-consuming job of building and operating the data management “plumbing” that forms the foundation for IoT systems.”
“Progressive companies are racing to build new systems that harness data generated by internet-connected factories, vehicles and smart buildings and put it to work immediately. These systems ingest streams of sensor data, analyze it and then trigger alerts or actions in order to optimize the behavior of “things.” They can change factory machine settings to improve output, direct failing vehicles off the road to increase safety, or disable access credentials to reduce fraud,” the company wrote.
The platform’s functionality allows for high-velocity data loading, data enrichment, real-time data analysis, data visualization through Klimt, Grafana or other data visualization software, user-defined alerts and triggers, and data platform administration. This is the company’s first hosted solution available on Microsoft Azure platform.
Based in San Francisco, Crate.io is an international open source company with offices in New York City, Austria and Germany.
Polina is an undergraduate student at Belarusian State Economic University (BSEU) where she is studying at the faculty of International Business Communication for a degree specializing in Intercultural Communication. In her spare time she enjoys drawing, music and travelling.
