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January 13, 2015

Basho to take on rivals with $25m in funding

The database firm’s total funding is $57.5m to date.

By Amy-Jo Crowley

Basho Technologies, the creator of the Riak NoSQL database, is set to take on rivals MongoDB and Couchbase after raising $25m in funding.

The Massachusetts-based firm, founded in 2008, closed a Series G funding round led by existing investor and private equity firm Georgetown Partners.

The funding brings the company’s total funding to $57.5m to date and will be used to develop its Riak Distributed NoSQL key-value database and Riak CS cloud storage system.

Basho said it has seen an uptake in Riak enterprise deployments in markets including advertising, financial services, gaming, retail and healthcare, where it replaced Oracle as the database behind a national patient database system for the UK’s health service.

Adam Wray, CEO of Basho, said: "Worldwide demand for NoSQL technologies is driving our growth and greatly expanding our large enterprise deployments."

"As NoSQL moves into primetime, we’re seeing more enterprises seek solutions that address a broad range of unstructured data requirements and we expect this trend to increase rapidly."

He added: "We set aggressive product and sales goals for 2014 and I couldn’t be happier with our achievements this year. We look forward to continuing this acceleration into 2015 and beyond."

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The funding comes as the market of NoSQL vendors becomes increasingly competitive. The likes of MongoDB, which this week announced $80m in funding, and Couchbase, which has received $116m in funding to date, are all trying to stake a claim.

Chester Davenport, Basho’s chairman, said: "Riak and Riak CS software have extremely strong product roadmaps for 2015 and sales momentum is impressive. With Series G funding secured, I have confidence Basho will establish itself as a leading unstructured data solutions provider in 2015."

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