Yugabyte, the leader in open-source distributed SQL databases in a recent press meet, has announced that it has raised a total fund of $48 million that Lightspeed Venture Partners led with additional participation by Greenspring Associates, Dell Technologies Capital, Wipro Ventures, and 8VC. Yugabyte will use the funds raised to develop its data management platform, expand its R&D, sales, and customer functions.
The firm is also focusing on developing its EMEA and APAC markets. Yugabyte will improve its hiring process to support its expansion plans and will double its headcount in 2021. With the new infusion of capital, the firm will build its engineering, DevOps, and support staff across the US and Asia. The firm is also aiming to accelerate its development and recruiting efforts in the APAC region. It is also establishing an open-source distributed SQL database platform.
The funding will also be used to accelerate enterprise adoption of Yugabyte's commercial products. It is a self-managed platform for the database-as-a-service offering, available on public and private hybrid cloud or Kubernetes infrastructure. It will also be available on AWS and Google cloud. The firm is also planning to update its database management software enterprise-grade security features and enhanced multi-region deployment capabilities.