Elasticsearch Gets $70M to Help Companies Make Sense of Data
Elasticsearch now has $70 million in the bank to expand the business built on top of its popular open-source enterprise search tools.
The company’s jumbo Series C round was led by New Enterprise Associates and included previous investors Benchmark and Index Ventures. It brings Elasticsearch, which is based in Amsterdam and Los Altos, Calif., to $104 million raised in total.
Elasticsearch, which has been widely adopted by developers, only launched its first paid product — other than support as a service — in January.
What the company does is helps sites feel quick and alive by processing tons of data on the fly. Recent new customers include Comcast, eBay, Facebook, Mayo Clinic, TomTom and Tinder.
While it may sound like some largely invisible boring piece of infrastructure, this technology allows for modern personalized experiences like searching for a hotel on Booking.com and seeing room inventory included in-line, or playing a mobile game like QuizUp and getting matched to the perfect opponent in real time.
The idea of a common data platform makes venture capitalist hearts go all a-flutter. “We’ve been wooing them for over a year,” said NEA partner Harry Weller, who joined Elasticsearch’s board with the round.
“This is just a wonderful piece of real estate that sits between the chaos and dexterity of all these sources, and makes the data actually usable and allows you to inject it into new applications,” Weller said. “And it’s a general platform, not like Splunk [which is] just for log data.”
To that end, Elasticsearch said it had also made a couple of key competitive hires. New VP of product management Gaurav Gupta was previously Splunk’s VP of products, and business development head Jobi George previously led Intel’s partnership with Cloudera.