GridGain Systems, a Foster City, CA-based provider of an enterprise-grade complete suite of in-memory computing technologies based on Apache® Ignite™, raised $15m in Series B financing.
The round was led by Sberbank and MoneyTime Ventures, with participation from Almaz Capital and RTP Ventures. In conjunction with the funding, Victor Orlovski, General Partner at MoneyTime Ventures, will join GridGain’s board of directors.
The company intends to use the funds to expand sales, marketing and R&D, and to accelerate continued international growth.
Launched in 2010 and led by Abe Kleinfeld, President and CEO, GridGain provides In-Memory Data Fabric, an enterprise-grade software platform based on the Apache Ignite open source project, which delivers speed and scale to accelerate high-volume transactions, real-time analytics and hybrid data processing.
The solution, which connects traditional and emerging data stores (SQL, NoSQL, and Hadoop) with cloud-scale applications and enable massive data throughput and ultra-low latencies across a scalable cluster of commodity servers, is used by global enterprises in financial, tech, retail, healthcare and other major sectors.