Real-time data company DataStax announced it raised $115 million in a funding round led by the Growth Equity business within Goldman Sachs Asset Management. The new capital brings DataStax’s valuation to $1.6 billion, a 33 percent increase from the company’s valuation last year, according to Crunchbase News. Other investors in this year’s round include Rokos Capital Management, EDB Investments and existing investors Crosslink Capital, Meritech Capital Partners and OnePrime Capital, among others.
Newly minted unicorn DataStax empowers enterprises with real-time data to build smart, scalable applications. According to a company statement, hundreds of large enterprises use DataStax’s suite of products including Verizon, Audi and ESL Gaming, among others.
“We see the transformative power of real-time applications across industries on a daily basis and among customers such as The Home Depot, Verizon and Capital One,” DataStax chairman and CEO Chet Kapoor said in a statement. “What’s clear is that we’re only in the early stages of what’s possible with new data-driven experiences that will serve a wide range of human needs, create virtuous cycles between companies and their customers and move markets. We appreciate that our investors believe in our vision — even in this economy, we were able to raise significant capital at a substantial premium over the round we completed just a year ago.”
The funding announcement comes after a strong first quarter for DataStax. The company said its severless, multicloud database Astra DB grew 350 percent year-over-year with 50 percent of the company’s new annual recurring revenue attributed to Astra DB. DataStax also recently announced a nearly 120 percent net dollar expansion and over 90 percent gross dollar retention year-over-year.
“Today’s market leaders run their business with real-time data to create instant intelligence and drive actions,” Holger Staude, managing director at Goldman Sachs, said in a statement. “That’s exactly what DataStax empowers companies to do, and why we are excited to support the next generation of digital applications with our investment.”
DataStax plans to use its new funding to double down on Astra DB development with added capabilities such as additional integration with Astra Streaming, which the company says will “enable businesses to easily activate all their real-time data — both data ‘at rest’ in a database and streaming data ‘in motion.’”
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