Mayank Bawa led Aster Data Systems adds $5 Million
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San Carlos: Aster Data Systems, a provider of the best analytic databases for frontline data warehousing, has closed an extension to its oversubscribed Series B round with an additional $5 million from Institutional Venture Partners (IVP). IVP has previously invested in notable companies including MySQL, Juniper Networks, Foundry Networks, ArcSight, ComScore, Netflix, Polycom, and WebEx. The additional funding brings the total Series B financing to $17 million, led by JAFCO Ventures, and including return backers Sequoia Capital, Cambrian Ventures and First Round Capital. Aster provides high-performance analytic database systems for frontline data warehousing - bringing deep insights on data analyzed on clusters of low-cost commodity hardware. The company pioneered a first in the database world - Aster In-Database MapReduce, giving customers the ability to implement flexible MapReduce functions for parallel data analysis and transformation of massive amounts of data inside the database. Earlier this year, the company announced Aster nCluster's Cloud Edition on Amazon Web Services and AppNexus, having successfully gained customers on both. "Aster's impressive technology and increasing market share are what we are looking for in the companies that we invest in," said Steve Harrick, General Partner at IVP, and a member of the Forbes 2009 Midas List. Steve also led IVP's investment in MySQL that was recently acquired by Sun Microsystems for $1BN. "IVP has a strong record of backing some of the most influential technology companies of our era, and we welcome them as our newest investor during this exciting time for Aster," said Mayank Bawa, CEO and co-founder of Aster. "We saw great success in the past year, and expanding this financing round will help us continue to innovate and grow aggressively, with a nice cushion to ride the economic waves, to provide the best data warehousing engine on the market," he added.
Source: IANS
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