Splice Machine Nabs $9 million in Extra Funding
Funding will come from existing investors, including Mohr Davidow Ventures (MDV), Interwest Partners and Correlation Ventures.
The San Francisco-based vendor provides a relational database management system (RDBMS) powered by Hadoop and Apache Spark.
It plans to use the capital ─ which comes from its original investors, including Mohr Davidow Ventures (MDV), Interwest Partners and Correlation Ventures ─ to accelerate product, sales and marketing efforts, according to a release.
In November, Splice Machine went live with version 2.0 of its platform. Enhancements included the ability for businesses to perform simultaneous OLAP (online analytical processing) and OLTP (online transaction processing) workloads, which allows them "to make decisions in the moment, and increase performance over traditional RDBMS, such as Oracle and MySQL, by 10-20 times at one-fourth the cost," according to the vendor.
"We will use the funding to accelerate our growing customer traction, as more businesses discover how Splice Machine can power their next-generation applications that require fast decision making with real-time data," said Monte Zweben, co-founder and CEO of Splice Machine, in a release.
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