Cloud Database Startup NuoDB Gets $14.2 Million Investment
NuoDB Inc., a cloud-based database startup headquartered in Cambridge, Mass., announced Feb. 28 that it has secured a $14.2 million investment led by European-based 3D software maker Dassault Systemes.
Also participating in the round are NuoDB's existing investors, which include Morgenthaler Ventures, Hummer Winblad Venture Partners and Longworth Venture Partners.
NuoDB claims to provide scale-out performance, continuous availability and geo-distributed data management. This is a single, logical database that can be deployed via the cloud in multiple locations simultaneously.
The investment not only bolsters NuoDB's growth but also is a testimonial to the current trend of older software vendors that are looking to deliver their applications via the cloud. Conventional databases, run in on-premises data centers, by their very nature, do not have the agility that a cloud-based solution brings to the table.
The investment is an extension of NuoDB's $10 million Series B round, bringing its total funding to $26.2 million. NuoDB has been a client of Dassault's for more than a year.
Like most companies, Dassault is rapidly evolving its business toward cloud computing. At its core, NuoDB is a cloud company with the goal of reinventing older-style databases for the cloud. Dassault has grown into one of Europe's most formidable big tech companies via its 3D CAD products, but needs new IT, products and services to adapt its business for the era of cloud computing.