CHARLOTTESVILLE, Va., April 28, 2016 /PRNewswire/ -- VividCortex, the database performance monitoring company that helps enterprises understand and optimize workloads across hybrid, distributed databases, today announced it has raised an additional $4.5 million in a Series A funding. The fast-growing company, which is profitable and grew revenues 8x last year, will use the funds to accelerate product development and sales.
New Enterprise Associates (NEA) led the round, with participation from previous investors including Battery Ventures and Jaffray Woodriff.
Founded in 2012 in Charlottesville, VividCortex is a fundamentally new solution for enterprises' most frequent and costly infrastructure issues: database inefficiency, slowness, and downtime. VividCortex measures and analyzes every query's performance, behavior, and semantics. This is far too much data for humans to understand, so VividCortex's patented data analytics and anomaly detection algorithms automatically surface relevant information. And VividCortex is delivered as software-as-a-service, eliminating the need for companies to run their own monitoring infrastructure. This contrasts with legacy solutions that are costly yet provide no real insight, resulting in problems going undetected or unsolved for months at a time, bad customer experiences, and increased datacenter costs.
VividCortex now has well over 100 enterprise customers in a variety of verticals such as ecommerce, finance, healthcare, and sales and marketing technology. VividCortex's customers use the platform daily throughout the software development lifecycle to deliver better applications into production faster with confidence, by delivering insights to all team members from development to QA, operations, and security.
"By enabling IT organizations to see the big picture when it comes to data performance, VividCortex is solving a problem that has plagued enterprises for over a decade," said Harry Weller, a General Partner at NEA whose portfolio includes MongoDB and Elastic. "Every company's data tier comprises many disparate databases, but most organizations are still looking at performance in silos. VividCortex dives deep into the data layer, analyzing an extraordinary amount of data to surface meaningful, comprehensive insights. The company's revenue and customer growth is a testament to the product/market fit, and we're excited to partner with Baron and his team as they continue to scale the business."
"We're very customer-focused in our product vision and execution," said Baron Schwartz, VividCortex's founder and CEO. "Our customers consistently tell us that they want four core capabilities in database monitoring: query monitoring, replication monitoring, security monitoring, and capacity planning and forecasting. The problem and its solution are easy to understand, but they're hard to build. It's a significant engineering effort, which is why we're continuing to invest most of our resources in product development." VividCortex currently supports MySQL, PostgreSQL, MongoDB, and Redis databases, and plans to add support for more database platforms.
"We were early believers in VividCortex, and invested in their seed round as well as the Series A," said Alex Benik, partner at Battery Ventures. "At first, we were investing in Baron's expertise and compelling vision, but now the company's rapid progress speaks for itself."
Learn more about VividCortex's progress in the company's funding announcement: VividCortex Raises Series A - A Message To Our Customers
VividCortex is the first SaaS solution for database monitoring at large scale, across distributed, diverse databases. Unlike traditional monitoring products that observe aggregate metrics about server status, VividCortex measures query performance in 1-second detail at any scale. And VividCortex goes well beyond metrics, with insight into query text (both SQL and NoSQL), execution plans, resource consumption, anomaly detection, and much more. The result is the ability to observe and understand database performance at a level never before possible with any monitoring or APM product.
About New Enterprise Associates
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $17 billion in cumulative committed capital since the firm's founding in 1977, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions. www.nea.com.
- Baron Schwartz, CEO and Founder, VividCortex
- Why APM's opinion of database performance isn't enough
- Distributed and diverse: the new database reality
- Logo and press kit
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SOURCE New Enterprise Associates, Inc.