$25m Round of Financing and 400% Growth for Couchbase
Earlier today, Couchbase announced blowout first half results and a new $25m round of financing. When we delivered the Couchbase 2.0 release last December we had high hopes for its success but the incredible positive reaction from the community and customers have gone far beyond our expectations.
Getting Couchbase 2.0 out the door eight months ago was a very important milestone for us. While Couchbase was already widely recognized as a leader in NoSQL, we felt it was crucial to expand the capabilities of our pure-key-value database to be a document database with features like indexing and querying. Equally important was delivering a cross data center replication (XDCR) capability that allows global companies to mirror their databases across their data centers.
The response to the 2.0 release has been phenomenal. Product sales have increased year-over-year by over 400%. Our new community portal has seen massive increased usage and engagement. Our DevDays one-day, hands-on training has been so successful and the demand so high that we will shortly offer on-line training so we can reach a much broader audience.
The largest enterprises and Internet companies that have web and mobile applications at the core of their businesses are choosing Couchbase. They need a database that easily and reliably scales to support millions of users and still provides the performance necessary to meet the response times demanded by their users. Couchbase’s clear leadership in scalability and performance is a key reason we are winning so many of the strategic competitive evaluations being done by these enterprises and large-scale Internet companies.
Many in the Couchbase community probably have less interest in the $25m financing, but it does reinforce the tremendous success we’ve had with the 2.0 release. We didn’t need the money but a number of competitive wins at large, high-visibility enterprises, as well as a number of equally high visibility wins where companies switched from NoSQL competitors to Couchbase, caused Venture Capital firms to take notice and aggressively pursue an investment. What this means to both the community and customers is that we will more aggressively invest in new products, more rapidly expand internationally, and invest more in educating our users.
We appreciate the tremendous support we have from our community and customers. While we’re extremely happy with the progress we’ve made over the last 8 months, we’re even more excited about what we’ll be delivering over the next several months. For a preview into the exciting things we’re working on I encourage you to come to our Couchbase [SF] conference on September 13.