Couchbase Adds $60 Million in New Funding to Support Expansion in NoSQL Market

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NoSQL database vendor Couchbase has added on a $60 million series E-round of financing, led by two new investors, WestSummit and Accel Growth Fund. The added funding brings the total amount of Couchbase funding to $115 Million. All existing venture capital investors also participated in this round of financing.

According to the company, the new investment is further evidence of the growth of the global big data market which is segmented in half with operational data management, largely led by NoSQL vendors on one side, and analytical data processing, led by Hadoop vendors on the other.

Couchbase says it will use this new round of funding to further its lead in innovation, as well as enabling global enterprise adoption of NoSQL and big data initiatives. This will include continued product investments, expanded regional technical support operations and scaling its marketing and sales teams.

The two leading investors in the new funding round are new to Couchbase.  Accel Growth III is described as a new $1 billion fund focused on investing in later stage companies that are driving important new trends in technology adoption. WestSummit is funded by its partners located across the U.S. and China and ocuses on helping build growth stage technology companies into global market leaders. Raymond Yang, co-founder and managing partner at WestSummit will join the Couchbase Board of Directors.

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Posted February 19, 2015