MammothDB, a big data storage and analytics company, secures €1.6M from 3TS and Empower
Big data storage and analytics company MammothDB secures EUR 1.6 million from 3TS Capital Partners and Empower Capital to further develop its technology platform and continue international expansion.
• MammothDB is a rapidly growing software company with a massively parallel distributed database product for warehousing and interactive analytics over TBs of data.
• New investment from 3TS Capital Partners and Empower Capital will enable further product development and international expansion.
3TS Capital Partners, one of the leading European technology growth capital investors and Empower Capital, a co-investment equity fund established under the European Investment Fund’s JEREMIE programme, announce the signing of an agreement to provide EUR 1.6 million funding to MammothDB.
Headquartered in Sofia, MammothDB was founded in 2011 by an international team of serial entrepreneurs.The Company develops an innovative parallel analytics database product, capable of handling very large data volumes, and has already gained commercial traction with international clients across various industry verticals.
The product with the same name enables business users to interactively analyze and create reports over “Big Data”-sets, without the help of data scientists, using either common reporting tools or MammothDB’s own web-based SaaS platform.
Furthermore, due to its innovative architecture and smart combination of proprietary and open source modules, the product is priced at very competitive levels for comparable enterprise-class Data Warehouse / Business Intelligence systems.
Steve Keil, CEO of MammothDB, commented:
“Until now, Data Warehouse and Business Intelligence systems have been “luxury goods”, affordable only to a tiny fraction of corporates, who can afford paying for such systems and hiring experts with scarce, specialized knowledge to maintain and operate them. The mission of MammothDB is to “democratize” enterprise-class data warehousing and business analytics, make it affordable and easy enough to work with, so that we can serve the majority of all businesses around the world, which currently still cannot gain actionable insights from their own data. We’re thrilled to have 3TS and Empower on board, anchoring our ambitious mission. This institutional investment and the support from both investors will propel us to the next level of growth, towards fulfilling our vision of creating a new wave of globally available analytics and insight. We believe that MammothDB is the first powerful, fast and affordable analytics database in the market which can serve clients from various industries and company sizes.
3TS Investment Manager Svetoslav Stefanov, who led the investment, added: “We are impressed with the team behind MammothDB and with the technology they have developed. It is reassuring to finally see a product which really delivers to the expectations the “Big Data” hype has created over the last years. 3TS have followed Mammoth for some time through the Cisco Entrepreneurs in Residence program and are now excited to become an investor in MammothDB. We look forward to supporting the Company to further develop its products and strengthen its position internationally.”
Empower Capital’s Managing Partner Elvin Guri: ‘We are excited by the opportunity to invest in such an innovative company with serious growth potential as MammothDB. When we were considering this investment opportunity, we were impressed by the track record of its founders who are bringing their extensive skills and experience to manage, develop and make this venture a success. Of course, we are also very pleased to co-invest alongside 3TS thereby lending our expertise to their extensive technology and international experience.’
MammothDB develops analytics database products used to power enterprise data warehousing and business intelligence solutions, providing actionable insights to the organization. MammothDB’s products leverage new technologies and architecture, enabling companies to gain interactive enterprise analytics at a disruptive price. MammothDB can efficiently and in a scalable way accommodate data sizes from GB’s of data up to TBs of “Big Data”. Further information is available at www.mammothdb.com
Source: MammothDB Press Release