Database Optimization Startup Silk Raises $ 55 Million
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Silk, a platform designed to improve database performance, today announced that it has raised $ 55 million in a Series B funding round led by S Capital with participation from Sequoia Capital, Pitango, Globespan, Ibex, Vintage, Clal Insurance, Bank HaPoalim, Meitav Dash, and Menora Mivtachim. The company says the product will be used to support its sales and marketing operations and expand its engineering team as demand for cloud environments increases in the wake of the pandemic.
As businesses increasingly move their workloads to the cloud, it’s important that their cloud infrastructure provides them with the stability these workloads need. Seventy percent of businesses now use more than one database in their stack, according to Redgate. And in a recent Gleanster survey, respondents said the main source of application performance issues was the database.
Silk, which was founded in 2008 by CEO Dani Golan, Moshe Selfin, Ofir Dubovi, enables customers to scale databases on demand while delivering seemingly better performance over conventional configurations. The platform automatically detects and removes duplicate data, mitigating data gaps and applying compression to bridge silos between clouds and on-premises servers.c
Golan claims the platform allows cloud environments to run up to 10 times faster and the entire application stack is more resilient to malfunctions. “Cloud providers are now starting to fight for customer databases and other mission-critical ‘gems’. To win this fight, they must ensure that customers will meet the service level agreements of their own end users, enabling optimal scalability and performance of their mission-critical applications, ”he added. “Having this capital allows us to present the vision of accelerated cloud adoption to a wider audience. “
Silk, which sits between a customer’s cloud environments and a customer’s databases, allocates cloud capacity to provide automatic provisioning and clones data for free, allowing businesses to build test environments without spending or slowing the load. job. The platform’s machine-learning-based dashboard displays real-time metrics and allows admins to scale up or down on the fly, as well as see the features and data they’re using.
Cloud observability and management remain a major business challenge. In a Pepperdata report, 64% of respondents said managing and controlling costs was their number one concern when running big data technologies and applications in the cloud. Additionally, a majority of respondents said the desire to better leverage current cloud resources was their highest priority big data cloud initiative.
Silk counts Payoneer, Priceline, Cisco and Telefonica among its customers, and has partnered with Microsoft, Amazon Web Services, and Google Cloud Platform to sell its technology and services. To date, the Needham, Massachusetts-based company has raised more than $ 294 million in venture capital, including a $ 75 million Series F funding round led by CIRTech Fund and Waterwood Group which s ‘closed in January 2017.
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