Yugabyte Secures $48M in Funding and Sets the Stage for Global Growth

Yugabyte has secured $48M in funding, bringing its total funding to $103M, to accelerate the launch of its fully managed cloud offering and expand into new markets such as EMEA and APAC. The company's open source distributed SQL database, YugabyteDB, is seeing rapid adoption by enterprises and startups alike, driven by its permissive Apache 2.0 open source licensing, comprehensive set of PostgreSQL-compatible features, and support for multi-cloud deployments out-of-the-box. With the new funding, Yugabyte plans to grow its R&D, sales, and customer support functions, and welcomes new customers such as Hudson River Trading. The company is also expanding its global presence through hiring more staff in India, Russia, Canada, EMEA, and APAC, with a focus on building a cloud-native distributed SQL database that combines the horizontal scalability of NoSQL systems with the ACID guarantees of a SQL system.

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