GridGain Raises $10 Million for In-Memory Analytics
GridGain, a Foster City, CA.-based distributed computing firm, just received $10 million in Series B financing from Almaz Capital and existing investor RTP Ventures. The round brings the company’s total funding to $12 million.
GridGain sells a Java-based in-memory analytics solution for distributed environments. The offering consists of two components: GridGain In-Memory Compute Grid (IMCG,) a MapReduce implementation built for sub-100ms computations, and the GridGain In-Memory Data Grid (IMDG).
IMDG is a SQL-compatible key-value store that can inget both transactional and non-transactional workloads. The system’s main selling point is its ability to query and update data in real-time, functionality that is poorly implemented in vanilla HDFS.
GridGain says that its technology is optimized for processing dynamic information such as operational and supply chain data. The platform complements Hadoop with connectors that enable users to import data from HDFS, and a mechanism that automatically snapshots inactive data into the framework. The company’s website states that its software is used by over 500 organizations worldwide.
“GridGain is addressing a real need in a rapidly growing big data market. Due to this market growth, the company is making tremendous traction,” said Geoff Baehr, the Almaz Capital managing director who is joining the company’s board. “Almaz Capital’s goal has always been to seek and build long-term partnerships with passionate entrepreneurs who are eager to make a difference. GridGain’s management team has proven experience in In-Memory Computing as well as the vision and drive to transform the industry.”
GridGain will use its newly secured capital to expand sales and marketing efforts and boost product development. The company hopes to establish itself as a “key element in the strategy of organizations” within the next two to three years.
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