New executive team secured additional funding and drove strong bookings growth
BELLEVUE, Wash. – January 13, 2015 – Riak Technologies, the creator and developer of Riak®, the industry leading distributed NoSQL database, today announced record 2014 sales growth along with closure of a $25 million Series G funding round led by existing investor Georgetown Partners. The financing is being used to expand development and marketing activities.
The company achieved several critical milestones in 2014:
- Grew bookings 62 percent sequentially in Q3 and 116 percent sequentially in Q4
- Grew bookings 88 percent from second half 2013 to second half 2014
- Ended 2014 with 87 percent licensing, 13 percent professional services revenues
- Closed numerous multi-million dollar enterprise deals
- Shipped Riak 2.0
- Shipped Riak CS 1.5
- Replaced Oracle at National Health Service of UK
“The new Riak management team has made strong progress in positioning the company to capitalize on growth opportunities for solutions that enable enterprises to extract value from the massive amounts of data they generate,” said Chester Davenport, chairman of Riak Technologies and managing director of Georgetown Partners. “Riak and Riak CS software have extremely strong product roadmaps for 2015 and sales momentum is impressive. With Series G funding secured, I have confidence Riak will establish itself as a leading unstructured data solutions provider in 2015.”
In March, Riak announced Adam Wray, formerly CEO of Tier 3, as CEO and Dave McCrory, formerly of Warner Music Group and VMware, as CTO. The company also added executive leadership for product, engineering, finance and EMEA management.
Riak has been widely recognized for innovation in distributed systems since being founded in 2008 and Riak has been deployed by more than 30 percent of the Fortune 50. The company experienced a significant increase in enterprise adoption in 2014 in a variety of industries, including advertising, financial services, gaming, retail and healthcare, replacing Oracle at the United Kingdom’s National Health Service.
The Weather Company, which oversees popular brands such as The Weather Channel, weather.com, Weather Underground, Weather Central and WSI, initially selected Riak Enterprise with its Multi-Datacenter Replication capabilities while still being extremely lightweight, easy to use and simple software.
“The amount of data we collect from satellites, radars, forecast models, users and weather stations worldwide is over 20TB each day and growing quickly. This data helps us deliver the world’s most accurate weather forecast as well as deliver more severe weather alerts than anyone else, so it is absolutely mission critical and has to be available all of the time,” said Bryson Koehler, executive vice president and CITO for The Weather Company. “Riak Enterprise Software gives us the flexibility and reliability that we depend on to enable over 100,000 transactions a second with sub 20ms latency on a global basis.”
Tapjoy first deployed Riak software to guarantee performance and uptime, even with peak traffic. It found that Riak helped them keep costs down, decrease engineering complexity, and reduce operational effort due to its ease of use and general stability.
“Two years ago, we implemented Riak Enterprise Software due to its high availability, operational simplicity, and ability to scale,” said Wes Jossey, head of operations at Tapjoy. “When we began, our clusters typically moved around 40,000 operations per second at peak. Today, we now see peaks well over 250,000 operations per second, all while sustaining sub-millisecond response times and rock solid stability. Despite this massive change in growth, we still do not employ any full-time engineers to work on our Riak cluster. It’s really that easy to use.”
OpenX became a Riak customer in 2012 to address multi datacenter replication and to consolidate the number of databases it was using to support its ad trafficking system. Riak Enterprise Software meets OpenX high availability and scale objectives with its multi-data center replication achieving over a billion daily real-time ad requests from a global audience.
“Riak has established themselves as a key OpenX partner,” said Matt Davis, site reliability engineer at OpenX. “They have worked with us in true partnership fashion to keep up with our rapidly scaling business and have always addressed our concerns in a timely manner. As a supporter of both Riak software and the greater Erlang community, OpenX appreciates the strong engineering prowess at Riak.”
“Worldwide demand for NoSQL technologies is driving our growth and greatly expanding our large enterprise deployments,” said Wray. “As NoSQL moves into primetime, we’re seeing more enterprises seek solutions that address a broad range of unstructured data requirements and we expect this trend to increase rapidly. We set aggressive product and sales goals for 2014 and I couldn’t be happier with our achievements this year. We look forward to continuing this acceleration into 2015 and beyond.”
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About Riak Technologies
Riak is a distributed systems company dedicated to making software that is highly available, fault-tolerant and easy-to-operate at scale. Riak’s distributed database, Riak®, the industry leading distributed NoSQL database, and Riak’s cloud storage software, Riak® CS, are used by fast growing Web businesses and by one third of the Fortune 50 to power their critical Web, mobile and social applications, and their public and private cloud platforms.
Riak is the registered trademark of Riak Technologies, Inc. Riak is a distributed systems company dedicated to making software that is highly available, fault-tolerant and easy-to-operate at scale. Riak’s Riak software is the industry leading distributed NoSQL database software. Riak’s Riak CS software is cloud storage software used by fast growing Web businesses and by one third of the Fortune 50 to power their critical Web, mobile and social applications, and their public and private cloud platforms.
Riak software and Riak CS software are available open source. Riak Enterprise Software and Riak CS Enterprise Software offer enhanced multi-datacenter replication and 24×7 Riak support. For more information, visit riak.com.