Instaclustr, a provider of an Open Source-as-a-Service platform delivering fully hosted and managed big data technology solutions, has raised $15 million in new funding from Level Equity – a New York City-based private investment firm. The funding would provide Instaclustr with capital to accelerate further expansion of its managed platform of core open source technologies.
Core open source technologies currently provided by the managed platform include Apache Cassandra, Apache Spark, and Apache Kafka. Instaclustr will use this $15 million funding to expand its automated management environment for database, analytics, search, and messaging services to include additional open source technologies such as Elasticsearch, Apache Ignite, and Apache Flink.
Instaclustr is now serving more than 100 customers from various industries and it has planned to double its headcount over the next year. Instaclustr’s revenues have grown 300% over the last 24 months and this pace is expected to continue, according to the company.
“We allow customers to get the most production value from an array of powerful open source data solutions – and to do so within a fully managed environment that frees up their IT resources and budget,” said Peter Nichol, CEO of Instaclustr. “The new investment from Level Equity will accelerate our platform’s expansion, grow our sales and support teams, and allow us to reach more organizations seeking to optimize their data-related performance, reliability, security, and scalability.”
Level Equity joins existing investors Bailador Technology Investments, ANU Connect Ventures, and Our Innovation Fund, LP.
Managing the Data Layer
Instaclustr will be adding other data-centric open source technologies that integrate well and would be ideally suited for supporting the scale, high availability, and performance demanded from next-gen applications and solutions. All technologies will continue to be made available through Instaclustr’s single platform capable of handling customers’ entire data layer.
“Instaclustr has earned its reputation as a trusted enterprise partner through its unwavering dedication to 100% open source technologies and fast, expert support,” said Ben Levin, Founder and Partner of Level Equity. “Demand for flexible solutions capable of addressing mission-critical data infrastructure is growing exponentially, and this is reflected in the outstanding financial performance Instaclustr has demonstrated in the last several years. The comprehensive managed platform Instaclustr offers is well positioned as a singular backend answer to meet the entire scope of customers’ requirements when it comes to managing the data layer.”