Software Firm ScaleArc Raises $5.33M From Trinity, Nexus Ventures
Mumbai and Silicon Valley-based database infrastructure software maker ScaleArc has secured $5.33 million in its second round of institutional funding, led by Trinity Ventures. Existing investor Nexus Venture Partners also took part in the round.
The proceeds will be used to scale up operations in the US market and hire more people to meet rising market demand.
ScaleArc is founded by Varun Singh, former CTO of Web18 Software Services Ltd (the Internet and Mobile arm of the Network 18 group), and offers database infrastructure software applications that simplify the way database environments are deployed and managed. The company's iDB software, available for MySQL, SQL Server, Oracle and PostgreSQL environments, offers real-time query analytics and control, instant horizontal scaling, caching, dynamic load balancing and more â€“ without any change to the existing applications or databases and thus lowering overall costs.
ScaleArc's customers include e-commerce and SaaS initiatives, enterprises, online gaming/digital media companies and technology service providers. The company currently employs 15 people and plans to add another 25-35 employees in the next six months.
On the sidelines, the company has also announced the appointment of Justin Barney, who previously ran the sales divisions at companies like Citrix and Juniper Networks.
"The annual data base market in the USA is estimated to be around $40 billion and we aim to become a significant part of it," said Varun Singh.
"ScaleArc has struck upon a powerful yet elegant architectural approach to solve many thorny problems in today's dynamic, high-performance data centre applications," said Sandeep Singhal, co-founder of Nexus Venture Partners, while commenting on the investment.
Nexus Venture Partners, a venture capital fund, invests in early and early-growth-stage companies across various sectors. The firm has $320 million under management across two funds and has funded companies like DimDim (recently acquired by Salesforce.com), Salorix, GENWI and Komli Media, among others.