Analytics Startup Elasticsearch
Elasticsearch, a real-time, enterprise data search and analytics startup and open source project, has raised $24 million in Series B financing led by Mike Volpi
from Index Ventures. The round includes contributions from existing investor Benchmark Capital and new investor SV Angel. This brings the company’s total funding to over $34 million.
Elasticsearch, which is based in Amsterdam, helps companies extract information from their large distributed volumes of structured and unstructured data. The organization wants to provide a simple way to analyze petabytes of information to deliver information that businesses require to make real-time, intelligent and actionable decisions.
Elasticsearch Raises $24M From Index Ventures
The company also provides enterprise-grade technical production support, development support, consulting and training for enterprises, systems integrators and software vendors worldwide.
The technology was created by co-founder and CTO Shay Banon, who released an open source product in 2009 that has already been downloaded 1.5 million times, including a current rate of 200,000/month, making it one of the top open source projects in the world. Foursquare is a user . Foursquare says that it handles tens of millions of searches across 50 million locations each day and Elasticsearch returns real-time results.
The company is announcing that it also passed a total of two million downloads.
As Banon explains to us, search today is different than it was ten years ago. Now search is a combination of free text search, structured search as well as analytics. And enterprises need to search across large volumes of data. Elasticsearch helps companies manage all of these functions. He adds that the company’s product simply makes the whole data finding process efficient.
The company just raised in $10 million in November, but the founders said that investor demand to participate in another round was high, and the company is going to use the investment to accelerate over the coming year, especially hiring in areas of sales, marketing and product.[source:cnet]