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Bain Capital, Carmel Ventures lead $10m Series A for Garantia Data

5 Nov 2013

data storage_lrgBain Capital Ventures and Carmel Ventures have led a $10m Series A round for technology startup Garantia Data, which specialises in NoSQL databases.

Garantia Data currently has more than 1,000 paying customers for its Redis Cloud service, which is one of the fastest growing databases in the NoSQL space.

The NoSQL market is projected to top $1bn in revenues by 2016 and Garantia said Redis should capture 15 per cent of the market in the next few years.

Bain Capital Ventures managing director Salil Deshpande said, “Redis rules in-memory NoSQL. It is among top three database choices by developers and has become a cornerstone of new applications.

“We invested in Garantia Data because the reliability and painless scalability of their commercial Redis offering makes Redis adoption feasible for enterprises.”

Bain Capital Ventures is the venture arm of private equity firm Bain Capital, which has $70bn under management.

The firm’s other portfolio companies include project management and collaboration software business Wrike, which has recently raised a $10m round.

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