Stay on Top of Enterprise Technology Trends
Get updates impacting your industry from our GigaOm Research Community
Open-source search provider Elasticsearch has secured $24 million in Series B venture funding, showing business demand for free and simple big-data analytics. Mike Volpi of Index Ventures led the funding round, which included contributions from Benchmark Capital and SV Angel.
Amsterdam-based Elasticsearch, which has now raised a total of $34 million, generates revenue by teaching people how to use the tool at training courses and help them solve problems by way of support subscriptions. Introduced in 2010 after founder Shay Banon developed it in his free time, the open-source Elasticsearch program today gets downloaded 200,000 times a month. Banon launched the company itself six months ago, when CEO Steven Schuurman got involved, in time to take on a Series A round.
Elasticsearch can make quick work of searching billions of documents and petabytes of data, structured and unstructured alike, said Banon, now the company’s chief technology officer. A single developer can use it to find needles amid haystacks of tweets and other kinds of data, eliminating the need for a team of data scientists, Banon said.
Like LucidWorks, Elasticsearch was developed on top of open-source Apache Lucene. But LucidWorks (which until August 2012 was named Lucid Imagination and has raised at least $16 million) focuses more on the enterprise, as my colleague Barb Darrow has reported, while Elasticsearch has caught on with startups and enterprises alike in several industries, according to Schuurman.