Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
News
All NewsCompaniesIndexesCurrency / ForexCommoditiesCryptocurrenciesETFInterest RatesEconomyThemesSectors

Crate.io Secures $10 Million in Funding Amid Surging Demand for Digital Transformation

06/15/2021 | 07:00am EST

SAN FRANCISCO, June 15, 2021 (GLOBE NEWSWIRE) -- Crate.io, developer and supplier of CrateDB, the purpose-built time series database, today announced $10 million in additional funding. Existing Crate.io investors including Draper Esprit, VITO Ventures, and Flatz & Partners AG participated together with selected individual investors. The company reports it has now raised approximately $31 million in total funding.

“This new round of funding enables us to accelerate our commercialization efforts,” said Eva Schönleitner, CEO of Crate.io. “We will focus on expanding across several verticals where Crate.io database technologies are key enablers of digital transformation. In addition, we will be broadening our developer and partner community ecosystem. Industry 4.0 initiatives require a 'team effort.' Combining forces with leading technology providers and implementors will be essential in order to enable customers to realize the expected operational and technological benefits. The engagement across our ecosystem is key to long-term success and we are building a solid foundation this year.”

Crate.io offers CrateDB as a fully open source time series SQL database, built to scale quickly and capable of ingesting and querying millions of data points every second to deliver actionable insights to organizations in real time. For customers requiring hands-on CrateDB management and optimization, Crate.io provides CrateDB Cloud as a fully managed CrateDB-as-a-service solution. Crate.io also recently launched CrateDB Edge, which now brings the power of CrateDB Cloud to customers’ remote and offline locations.

“The growing importance of machine data analytics and AI demand specifically built data technologies,” said Christian Lutz, co-founder and President, Crate.io. “A distributed SQL architecture that scales horizontally in any cloud and edge enables customers and developers to capture and process the volume of machine data in real-time and at scale, accelerating their success in implementing digital transformation projects.”

With CrateDB available in the cloud, at the edge, and on-premise, Crate.io allows complete flexibility to digital transformation. As organizations develop or migrate to smart systems that unlock competitive advantages and new efficiencies, Crate.io meets their scaling requirements for harnessing machine data in a cost-efficient manner.

"Great enterprise businesses are built over the long term,” said Stuart Chapman, Director, Draper Esprit. “With CrateDB, Crate.io has been building a superb suite of database products which make scaling easy for their customers. This fundraise will allow the Crate.io team to continue to delight their customers and we are proud to support the team over the long term."

About Crate.io

Crate.io is the developer of CrateDB, a highly scalable distributed database solution that combines the scalability and performance of NoSQL with the power and simplicity of standard SQL. Designed to support IoT and machine data applications in particular, CrateDB is optimized for containerized environments and runs on premise, in the cloud, and at the edge. Crate.io was founded in June 2013 and operates globally from its offices in Berlin and Dornbirn, Austria, as well as San Francisco and remote friendly. In 2021, CrateDB won the IoT Evolution Industrial IoT Product of the Year Award.


Contact
Kyle Peterson
kyle@clementpeterson.com

Primary Logo


ę GlobeNewswire 2021
Latest news "Companies"
12:45aTata's Air India to seal half of jumbo plane order - sources
RE
12:45aPakistan Aluminium Beverage Cans : Disclosure of Interest by a Director CEO, or Executive of a listed company and their Spouses and the Substantial Shareholders u/c 5.6.1.(d) of PSX Regulations
PU
12:45aCoil : Sales 2022
PU
12:34aMarketmind: Stumbling away
RE
12:26aEMEA Morning Briefing: Stocks Seen Higher as -2-
DJ
12:26aEMEA Morning Briefing: Stocks Seen Higher as Sentiment Improves
DJ
12:25aPosco International : 4Q 2022 Earnings Release
PU
12:25aDksh : Strengthens its Scientific Instrumentation Business by Partnering With ABclonal in Thailand
PU
12:25aMughal Iron & Steel Industries : Prior transmission to exchange of notice to shareholders
PU
12:25aUniversal Network : Material Information
PU
Latest news "Companies"