Instaclustr Announces $15 Million Growth Equity Investment from Level EquityAugust 16, 2018 No Comments
Palo Alto, California – August 16, 2018 – Instaclustr, the leading provider of completely managed solutions for scalable open source technologies, today announced it has raised $15 million from Level Equity, the New York City-based private investment firm. The funding provides Instaclustr with capital to accelerate expansion of its managed platform of core open source technologies. Instaclustr – now serving more than 100 customers from various industries – will double its headcount over the next year. Instaclustr’s revenues have grown 300% over the last 24 months and this pace is expected to continue.
Instaclustr’s Open Source-as-a-Service platform delivers fully hosted and managed big data technology solutions in their 100% open source form, providing customers the data capabilities and reliability required to scale with absolute freedom from vendor or technical lock-in. Core technologies currently provided by the managed platform include Apache Cassandra, Apache Spark and Apache Kafka.
Instaclustr will use this funding to expand its automated and proven management environment for database, analytics, search, and messaging services to include additional open source technologies such as Elasticsearch, Apache Ignite and Apache Flink. The company will also be adding other data-centric open source technologies that integrate well and that are ideally suited for supporting the scale, high availability, and performance demanded from next-gen applications and solutions. All technologies will continue to be made available through a single platform capable of handling customers’ entire data layer.
“We allow customers to get the most production value from an array of powerful open source data solutions – and to do so within a fully managed environment that frees up their IT resources and budget,” said Peter Nichol, CEO, Instaclustr. “The new investment from Level Equity will accelerate our platform’s expansion, grow our sales and support teams, and allow us to reach more organizations seeking to optimize their data-related performance, reliability, security, and scalability.”
“Instaclustr has earned its reputation as a trusted enterprise partner through its unwavering dedication to 100% open source technologies and fast, expert support,” Ben Levin, Founder and Partner, Level Equity. “Demand for flexible solutions capable of addressing mission-critical data infrastructure is growing exponentially, and this is reflected in the outstanding financial performance Instaclustr has demonstrated in the last several years. The comprehensive managed platform Instaclustr offers is well positioned as a singular backend answer to meet the entire scope of customers’ requirements when it comes to managing the data layer.”
“Because of Instaclustr’s robust platform and readily-available support, we’re able to focus our attention where it belongs: on our product and growing our business,” said Jason Wu, CTO, AdStage. “Working with Instaclustr has given us certainty that our open source deployment is being expertly managed, scaled, and optimized on our behalf. We look forward to continuing to benefit from our relationship with Instaclustr as it expands its managed data technologies.”
Level Equity joins existing investors Bailador Technology Investments, ANU Connect Ventures, and Our Innovation Fund, LP.
Instaclustr is the Open Source-as-a-Service company, delivering reliability at scale. We operate an automated, proven, and trusted managed environment, providing database, analytics, search, and messaging. We enable companies to focus internal development and operational resources on building cutting edge customer-facing applications.