Elasticsearch Raises $24M from Investors, Reaches 2M Downloads

By Ed Silverstein February 20, 2013

Elasticsearch has raised $24 million from investors in a new funding round. Leading the Series B round was Mike Volpi from Index Ventures. 

Other investors include existing investor Benchmark Capital and new investor SV Angel. The money will be used in part to hire new staff in sales, marketing and product areas, TechCrunch said. 

The company’s funding now totals over $34 million.

Elasticsearch also recently exceeded two million downloads. That shows the popularity of the data search and analytics solution. Also, Elasticsearch is seeing about 200,000 downloads a month.

Among its well-known users is Foursquare. Elasticsearch is used to sort through billions of documents, as well as structured and unstructured data.

"What we see today is that search has become the main driver for data exploration. Real-time, free-text search, structured search and analytics have become the information backbone for organizations everywhere,” Shay Banon, CTO and cofounder of Elasticsearch, said in a company statement carried by TechZone360. “With Elasticsearch, users can now browse through vast amounts of data and innovate more effectively than ever before."

The new funding comes at a key time for the company. "Since we founded the company, the demand for our support and training offerings has experienced explosive growth. On a tactical level it's vital we attract the best talent to support our customers and deliver on our product engineering ambitions as the adoption of Elasticsearch continues to accelerate. On a more strategic level, this round of investment frees us to execute on our vision, whilst adding an invaluable board member to the team," said Steven Schuurman, CEO at Elasticsearch.

Looking at the larger sector, IDC has projected that the search and content analytics software market will total $3.2 billion by 2016.

“Our research is showing that uses of search are expanding, with newer search applications unifying access to both data and content and that the use of open search solutions within enterprises is growing. Elasticsearch, with its recent announcements, is well positioned to take advantage of both of these trends," added Dave Schubmehl, research director at IDC.




Edited by Braden Becker

TechZone360 Contributor

SHARE THIS ARTICLE
Related Articles

Top 3 Takeaways from Microsoft Ignite

By: Special Guest    10/2/2017

Microsoft Ignite wrapped up last week in Orlando. At the company's big conference dedicated to IT professionals and developers, 25,000 business custom…

Read More

Millennials Want Smart Home Tech More Than Anyone

By: Larry Alton    10/2/2017

Millennials are known for having very specific interests. They also hold a significant level of buying power in certain markets, particularly technolo…

Read More

SpaceX Names Satellite Broadband Service, Works FCC Connect America

By: Doug Mohney    9/29/2017

"Starlink" is the potential title for SpaceX's massive satellite network to deliver high-speed Internet access, reports Florida Today. The company has…

Read More

New Apple iPhone X as Much Hype as Innovation

By: Doug Mohney    9/28/2017

Apple is counting on it with the iPhone X -- the "X" symbolizing the 10th anniversary of the iPhone. Fans of the company are falling all over themselv…

Read More

Alexa and the PBX, Coming Soon

By: Doug Mohney    9/28/2017

This week, Amazon unloaded a ton of Alexa-enabled Echo gizmos, including the Echo Connect. Shipping on December 13, 2017 (just before the holiday seas…

Read More