Mobile IoT Authors: Zakia Bouachraoui, Pat Romanski, Yeshim Deniz, Carmen Gonzalez, Liz McMillan

Blog Feed Post

GridGain Closes $2.5 Million Series A Funding

GridGain Closes $2.5 Million Series A Funding to Accelerate Innovation in Real Time Big Data Processing

Innovative Cloud-Based Software Middleware Provider Receives Financing Led by RTP Ventures

Foster City, CA (PRWEB) December 06, 2011 — GridGain, the leader in high performance cloud computing and real time big data processing, today announced that it has closed a $2.5 million Series A round of financing led by RTP Ventures. The company will use the new funding to accelerate growth, continue innovation in real time big data processing, and expand its global market share.

News Facts

  • GridGain is used by leading Fortune 500 companies including Sony, Apple, McGrawHill, Avis, TomTom, Markit, Daiwa, Thomson Reuters, and others across the finance, retail, Web 2.0 and telecom markets
  • More than 500 businesses use GridGain’s software on a daily basis to address the scalability and real time processing issues surrounding massive data growth
  • GridGain software starts every 10 seconds around the globe
  • There have been over 6,000,000 product starts since the initial release of version 1.0 in 2007
  • GridGain is home to one of the most active user forums for cloud-based middleware, with over 150,000 views since 2007

Supporting Quotes

Kirill Sheynkman, Managing Director, RTP Ventures
“The real-time need to process big data is here, and it’s getting bigger with every tweet, like, and NFC wave. By uniquely combining compute and in-memory data grids into a scalable, real-time platform, GridGain takes webscale data analytics beyond ETL-like Hadoop scripts into the modern world. With a solid technological foundation, GridGain lets businesses stem the swelling information tide, and enables them to make real-time decisions according to their rules without breaking the bank for refrigerator-sized data appliances. The investment rationale is simple: lucrative and growing market, unique company-created technology, and a smart founding team that proved they can build product before asking for money — that’s RTP’s strike zone.”

Salil Deshpande, General Partner, Bay Partners
“It’s been a joy to be involved in the company’s progress over the last three years, and see the creation of the only middleware platform to provide integration between compute and in-memory data grid technologies. I’m excited for the opportunities GridGain will have going forward.”

Nikita Ivanov, Founder and CEO, GridGain Systems
“The funding we received in our Series A round is a strong endorsement of GridGain’s market opportunities and the high growth potential for companies focused on enabling real time live data processing and analytics. The GridGain team has executed exceptionally well to-date and I am excited to have the resources to accelerate the growth of the company as we expand our operations.”

Additional Resources

About RTP Ventures
RTP Ventures is the US arm of ru-Net Holdings, one of the largest internet and technology investors in Russia. ru-Net portfolio hits include Ozon and Yandex. With approximately $700M under management, RTP plans on actively investing in software companies in the United States focusing on Cloud Computing, Software as a Service, and Internet Infrastructure technologies. RTP is led by Kirill Sheynkman, a serial Entrepreneur and experienced Venture Capitalist based in New York City. Find our more at http://www.rtp.vc

About GridGain
GridGain Systems Java-based open source middleware platform allows companies to harness live data for smarter, faster real time processing and analytics. GridGain software is used by companies who see real time big data as a strategic asset. It provides unique integration between compute and in-memory data grid technologies and scales up from a single server to thousands of machines. With tens of thousands of downloads and hundreds of deployments, GridGain software starts every 10 seconds around the globe today. Founded in 2005, GridGain is headquartered in Foster City, California. More information about GridGain is available at: http://www.gridgain.com

Read the original blog entry...

More Stories By Thomas Krafft

Over 15 years of experience in marketing and demand creation, with strategies driving over $500 million in revenue for a variety of companies in several high-growth and competitive markets, including consumer software and web services, ecommerce, demand creation through web and search, big data, and now healthcare.

IoT & Smart Cities Stories
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
Digital Transformation is much more than a buzzword. The radical shift to digital mechanisms for almost every process is evident across all industries and verticals. This is often especially true in financial services, where the legacy environment is many times unable to keep up with the rapidly shifting demands of the consumer. The constant pressure to provide complete, omnichannel delivery of customer-facing solutions to meet both regulatory and customer demands is putting enormous pressure on...
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
Charles Araujo is an industry analyst, internationally recognized authority on the Digital Enterprise and author of The Quantum Age of IT: Why Everything You Know About IT is About to Change. As Principal Analyst with Intellyx, he writes, speaks and advises organizations on how to navigate through this time of disruption. He is also the founder of The Institute for Digital Transformation and a sought after keynote speaker. He has been a regular contributor to both InformationWeek and CIO Insight...
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Dynatrace is an application performance management software company with products for the information technology departments and digital business owners of medium and large businesses. Building the Future of Monitoring with Artificial Intelligence. Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more busine...