Newton startup ScaleBase, which keeps next generation apps and business-critical databases up and running, said today it has raised $10.5 million in Series B funding from investors Bain Capital Ventures, Ascent Venture Partners and Cedar Fund.
"Market demand for uninterrupted database performance is growing at an unprecedented rate as thousands of new online and mobile apps launch daily, and companies struggle to keep up with the massive transactional processing requirements of big data," said ScaleBase CEO Ram Metser. "This investment is a clear validation of the tremendous market opportunity and our solution."
The new funding will fuel product innovation, research and development, and sales and marketing expansion. Bain Capital Managing Director Ben Nye, Ascent Venture general partner Geoff Oblak and Cedar Fund partner Motti Vaknin will all join ScaleBase's board of directors.
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