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

The Sharing Economy Means Big Cash Ahead

By: Steve Anderson    5/27/2016

It might seem like a misnomer, as the "sharing economy" has previously been thought to mean "getting stuff for free". A new report from Juniper Resear…

Read More

The NFL and Twitter Just Put Fans in Charge of the Future of Sports Viewing

By: Special Guest    5/26/2016

Ask ten people you know what the last thing they viewed live was and eight of them will tell you, a sporting event. The others may cite the occasional…

Read More

10 Tech Tools to Get You Through 2016

By: Drew Hendricks    5/24/2016

A great example of how simple tech innovations can make even the smallest things in our lives a little easier, the Oombrella, developed by Wezzoo, is …

Read More

The Bigger Picture Behind Facebook's Bias Accusations

By: Special Guest    5/23/2016

Facebook recently followed up with a stern position that there was no biased manipulation of presented topics in its 'Trending Topics' section.

Read More

Tamiami Angel Fund II Adds 10th Company to Investment Roster

By: Steve Anderson    5/19/2016

The Tamiami Angel Fund II (T2) has been busy in recent months, adding a slate of new investment targets to its roster. T2 recently added one new opera…

Read More