S Capital, the series B investment round’s lead investor, disclosed that Silk, a platform created to boost database speed, has raised $55 million. According to the firm, the money will assist its operations in sales and marketing and grow its technical staff as demand for cloud environments increases.
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Stable cloud infrastructure is crucial as businesses increasingly migrate their workloads to the cloud. Redgate estimates that seventy percent of companies now stack several databases. Additionally, respondents to a recent Gleanster poll said that databases are the leading cause of app performance concerns. Customers may grow databases on demand using Silk, developed in 2008 by CEO Dani Golan, Moshe Selfin, and Ofir Dubovi. Silk supposedly offers higher performance than traditional configurations. The technology uses compression to cross data silos across clouds and on-premise servers, automatically identifying and eliminating duplicate data, reducing gaps between data, and minimizing data gaps.
Golan asserts that the platform makes the entire software stack more fault-tolerant and cloud environments operate up to 10 times quicker. The battle between cloud suppliers for control of customers’ databases and other vital information is just getting started. By providing optimal scalability and performance of their mission-critical applications, they must ensure that clients will satisfy their own end users’ service-level agreements. We are able to reach a broader audience with the vision-accelerated cloud adoption thanks to this finance.
In order to provide automated provisioning and free data cloning, Silk, which stands between cloud environments and a customer’s databases, allots cloud capacity. This enables businesses to construct test environments without incurring costs or causing workload to be slowed down. The dashboard of the platform, which is machine learning-powered, displays real-time analytics and enables administrators to scale up or down on the go while also allowing them to monitor the features and data they are using.
Customers of Silk include Payoneer, Priceline, Cisco, and Telefonica. To market its products, Silk has teamed with Amazon Web Services, Microsoft, and Google Cloud Platform. Over $294 million has been invested in venture capital for the Needham, Massachusetts-based business so far, including a $75 million series F round headed by CIRTech Fund and Waterwood Group that was completed in January 2017. Moreover, Sequoia Capital, Pitango, Globespan, Ibex, Vintage, Bank HaPoalim, Clal Insurance, Meitav Dash, and Menora Mivtachim participated in the most recent fundraising round.