Open source-as-a-service provider Instaclustr has raised $20.8 million in an investment round led by US-based private investment firm Level Equity.
Instaclustr plans to invest the capital towards accelerating the global expansion of its managed platform.
Specifically, the Australian provider will use the funding to expand its development team and to accelerate building the company’s automated and proven management environment for database, analytics, search and messaging services.
Claiming more than 100 customers around the world, the Australian provider plans to double its headcount over the next year.
“We allow customers to get the most production value from an array of powerful open source data solutions – and to do so within a fully managed environment that frees up their IT resources and budget,” Instaclustr CEO Peter Nichol said.
“The new investment from Level Equity will accelerate our platform’s expansion, grow our sales and support teams, and allow us to reach more organisations seeking to optimise their data-related performance, reliability, security, and scalability.”
According to Instaclustr, its platform delivers fully hosted and managed big data technology solutions, which is 100 per cent open source, allowing to scale from vendor or technical lock-in.
“Demand for flexible solutions capable of addressing mission-critical data infrastructure is growing exponentially, and this is reflected in the outstanding financial performance Instaclustr has demonstrated in the last several years," Level Equity founder and partner Ben Levin said.
"The comprehensive managed platform Instaclustr offers is well positioned as a singular backend answer to meet the entire scope of customers’ requirements when it comes to managing the data layer.”
In 2017, Instaclustr was named in the Deloitte Tech Fast 50 as the fifth tech start-up in the country with a 1,257 per cent growth.
In April of the same year, Instaclustr joined the Federal Government’s cloud services procurement panel arrangement.