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MemSQL secures $35m in Accel-led Series B

22 Jan 2014

data storage_lrgVenture capital firm Accel Partners has led a $35m Series B funding round for in-memory database technology specialist MemSQL.

New investor Khosla Ventures and existing backers First Round Capital and Data Collective also participated in the round, which brought the company’s fundraising total to $45m.

MemSQL was founded in 2011 by former Facebook engineers Eric Frenkiel and Nikita Shamgunov.

Current MemSQL customers include Comcast, Zynga, Shutterstock and Ziff Davis.

Accel general partner Kevin Efrusy said, “Through Accel’s Big Data Fund, we see a very broad database landscape.

“We’ve backed breakout open-source leaders Couchbase on the transactional side and Cloudera, with its Enterprise Data Hub, on the analytic side, but we also believe there is a very distinct place for MemSQL in real-time analytics.

“No executive wants to wait for insights anymore, and MemSQL’s in-memory, SQL technology means they don’t have to.”

Accel’s recent deals include a $21.5m investment in online marketplace for private tutoring WyzAnt.

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