Elasticsearch Big Data Search Startup Pulls in $10M Funding
Elasticsearch, a big data analytics startup, secures $10 million in funding from open-source visionaries.Elasticsearch, a big data search and analytics startup, announced it has secured $10 million in Series A financing led by Benchmark Capital to help build out its analytics engine and more. In addition to Benchmark, other investors in the round include Rod Johnson, the creator of the Spring Framework and co-founder of SpringSource, and Data Collective. Elasticsearch said it will use this initial round of funding to help build out the organization in all functional areas and expand into key geographic regions to support the adoption of Elasticsearch. The open-source search and analytics software emerged in the last six months as one of the more popular open-source projects in the big data market and is already being used by thousands of companies all over the world, the company said. Elasticsearch’s forte is that it revolutionizes big data information retrieval by empowering anyone to turn it into valuable information to improve business results. Elasticsearch provides enterprise-grade technical production support, development support, consulting and training for enterprises, systems integrators and software vendors worldwide. Organizations of every size are struggling to find an easy way to extract information from their large distributed volumes of structured and unstructured data. While there are a number of proven technologies for storing the exploding volumes of data, there is no user-friendly and simple way to quickly search through petabytes of information to deliver the exact information that businesses require to make real-time, intelligent and actionable decisions, the company said.
Created by Elasticsearch co-founder and CTO Shay Banon, the open-source product was first released in 2009 and has already been downloaded 1.5 million times, including a current rate of 200,000 per month, making it one of the top open-source projects in the world, according to the company. Steven Schuurman, a co-founder of SpringSource , where he served as senior vice president of worldwide service delivery, also co-founded Elasticsearch. Prior to Elasticsearch, Banon was director of technology at Gigaspaces Technologies.