NoSQL Database Maker MarkLogic Gets $102M VC Shot in Arm
The NoSQL market is positioned as an alternative to traditional—and most often expensive—relational databases.NoSQL database maker MarkLogic, run by former Oracle and Symantec executive Gary Bloom, revealed May 14 that it has banked $102 million in new venture capital. That brings its total VC funding to $173 million over a 14-year span. MarkLogic, based in San Carlos, Calif., is a key player in the NoSQL market, which is positioned as an alternative to traditional—and most often expensive—relational databases. MarkLogic said it will use the funds to fuel growth to satisfy global market demand for its enterprise database. The funds also will be used to accelerate the company's global market expansion across Europe, Japan and Asia Pacific; expand its partner ecosystem; and support continued development of the database. The round was led by Wellington Management Company LLP and included participation from new investor Arrowpoint Partners; existing investors Northgate Capital, Sequoia Capital and Tenaya Capital; and Bloom himself.
MarkLogic competes directly with Oracle and SAP in major enterprise applications. The company's software is used in the HealthCare.gov Website that supports the Affordable Care Act, otherwise known as Obamacare.