Newton data base company ScaleBase secures $10.5 million in funding
ScaleBase, a Newton company that helps businesses keep their data bases up and running, said Wednesday that it has secured a $10.5 million round in Series B funding.
The round was led by Bain Capital Ventures and Ascent Venture Partners, with participation by Cedar Fund, an existing investor, ScaleBase said in a press release.
“Market demand for uninterrupted database performance is growing at an unprecedented rate as thousands of new online and mobile apps launch daily, and companies struggle to keep up with the massive transactional processing requirements of big data,” Ram Metser, the company’s newly named CEO and its former executive chairman, said in a statement. “This investment is a clear validation of the tremendous market opportunity and our solution.”Chris Reidy can be reached at email@example.com.