Datos IO, a data recovery platform for enterprises, has raised $2.75 million in oversubscribed Seed funding and $12.5 million in oversubscribed Series A funding, for a total of $15.25 million from Lightspeed Venture Partners and True Ventures along with participation from other angel investors.
It is now emerging from stealth-mode and is launching an early-access program for its platform. The newly raised funding will be used to build its team of sales and engineering. It will also spend money for further development of its product.
As a part of the deal, John Vrionis, partner at Lightspeed Venture Partners, and Puneet Agarwal, partner at True Ventures, will be joining Tarun and Prasenjit on the board of directors.
Founded by Tarun Thakur and Prasenjit Sarkar in 2014, Datos IO provides enterprise-class recovery solutions for scale-out databases and cloud databases.
It has developed a distributed versioning data recovery platform for enterprise applications that are deployed on databases like Cassandra, MongoDB, HBase, Amazon DynamoDB, Google BigTable and Spark.
It claims to have designed the industry’s first distributed versioning platform built from the ground up for scale-out databases. Their cluster-consistent versions are in native formats and designed for any point in time and semantic deduplication technology is designed specifically for scale-out, eventually consistent databases.
Using it’s platform, users can restore without manual administration steps. There is no need of copying, scripts, and most of all, geared for application admins and DevOps. The versions are in native format and database-consistent, so no repair is required on restore.
The company’s platform is currently in limited test release and is not yet generally available. If you wish to get a sneak preview , you can join their Early Access Program. It will be generally available to customers in 2016.
Tarun Thakur, CEO and co-founder, Datos IO, said,
Datos IO is the first to address a huge enterprise need and a huge market opportunity: a recovery solution that’s built for today’s distributed applications and scale-out databases. Traditional recovery approaches work great for relational databases, but using them for next-generation databases doesn’t work; it’s like being held back by an old, rusty anchor. With our industry-first distributed versioning platform, Datos IO is setting enterprises free of that anchor so they can innovate and compete effectively in today’s mobile, social, cloud-native world.
According to a report by Markets and Markets, the Cloud Database and Database-as-a-Service market is projected to be a $14.05 billion market by fiscal year 2019, with a Compound Annual Growth Rate (CAGR) of 67.30 percent during the forecast period of 2014-2019.