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Bain venture arm, Ascent, Cedar Fund in $10.5m Scalebase financing

17 Oct 2012

Bain Capital’s venture arm was among a trio of investors to back a $10.5m financing round for database performance company ScaleBase.

Ascent Venture Partners and Cedar Fund also took part in the Series B round, which will be used to fund the company’s focus on product innovation in the company’s next phase of growth.

Bain Capital Ventures managing director said, “Delivering real-time database scalability dramatically improves application performance and availability while also reducing costly over-provisioning and delivering a demonstrable customer ROI.”

Scalebase says it already backs some of the world’s fastest growing databases including Mozilla, as well as an unnamed global mobile provider.

Ascent general partner Geoff Oblak said, “Organizations worldwide are struggling to meet their customers’ ever-increasing expectations for database scalability.

“With their innovative database virtualization solution, ScaleBase has an explosive market opportunity to change the way companies create and launch next gen apps.”

The move comes two months after Bain Capital Venture exclusively led a $20m funding round for 4moms, a company that claims to be the first to introduce robotics technology to baby and juvenile products.

Juvenile products is an $8.9bn market in which the products have essentially stayed the same for the past 50 years.

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