MarkLogic has announced another funding of $102 million. It’s one of the leading database vendors in the country and has been running operations for over a decade now. The company offers database platform supporting NoSQL to clients from different sectors.
NoSQL v/s Traditional Database Platform:
There are various traditional database platforms available in today’s time, which can handle different types of constructed data, but hardly any of them can handle unconstructed data. In such circumstances, NoSQL can be of great use. Over the last one decade, the importance of social media has inclined at a swift pace all around the world, which has made space for platforms like NoSQL. Nowadays, companies extract a lot of raw data from social media platforms, they can easily analyze that data with the help of NoSQL.
MarkLogic’s Transformation Into A Leading Brand:
It has been in existence for little more than a decade, but the popularity that it has achieved over these many years is due to its second to none offerings. It has grown into a major player in database field with headquarter in Silicon Valley and offices across US, Europe and APAC. The annual revenues of MarkLogic are more than $100 million, making it one of the sought after companies in the industry.
When it comes to funding part, the company could only raise $71 million before the recent announcement, which comes as a shock to a company of this size. The newest growth funding of $102 million has come from Wellington Management Company LLP. Other entities and individuals who have participated in the funding include Arrowpoint Partners, Northgate Capital, Tenaya Capital, Sequoia Capital, and Gary Bloom, CEO & President of MarkLogic.
The company stated after the funding was closed that it had a target of $70 million, but the round was oversubscribed and ended up at $102 million.