Massachusetts-based Silk raised $55M in funding led by S Capital
S Capital, the series B investment round’s leading investor, announced it Silk the platform, which was created to improve the speed of database processing has raised $55 million. According to the company, it will use the funds to improve its marketing and sales as well as increase its technical team as the demand for cloud-based environments is increasing.
Cloud infrastructure that is stable is vital as businesses continue to move applications to the cloud. Redgate estimates that 70% of businesses have multiple databases. Also, the respondents to the recent Gleanster poll stated that databases are the primary source of app performance problems. Customers can increase databases as needed using Silk the application, which was created as a product in 2008, by its CEO Dani Golan, Moshe Selfin along with Ofir Dubovi. Silk is said to have higher performance than conventional configurations. The technology makes use of compression to bridge data silos between clouds and on-premise servers. It also automates identifying duplicate data and eliminating it and reducing the gaps data, and minimizing gaps in data.
Golan claims it makes the whole software stack more reliable cloud environments run up to 10 times faster. The fight between cloud providers to manage the databases of their customers and other crucial information is just getting underway. With the best performance and scalability of their critical applications, They must make sure that customers are able to meet their own user’s service-level agreements. We can expand our reach to a wider audience through the cloud’s vision of rapid adoption due to this financial.
To provide automated provisioning of data and free data copying, Silk, which stands between cloud environments and customer’s database, provides cloud capacity. This lets businesses create environments for testing without incurring expenses or causing workloads to slow down. Dashboards of this platform that is powered by machine learning provide real-time analytics and allow administrators to increase or decrease the size of their environment at any time while permitting them to keep track of the features and the data they’re using.
Silk’s customers include Priceline and Cisco, Silk comprises Payoneer, Priceline, Cisco as well as Telefonica. To promote Silk’s services, Silk has teamed with Amazon Web Services, Microsoft as well as Google Cloud Platform. More than $294 million has been put into venture capital for Silk’s Needham company based in Massachusetts up to now, which includes 75 million in a series F round led by CIRTech Fund and Waterwood Group which was concluded at the beginning of January. Additionally, Sequoia Capital, Pitango, Globespan, Ibex, Vintage, Bank Hapoalim, Clal Insurance, Meitav Dash as well as Menora Mivtachim participated in the latest round of fundraising.
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