| SAN FRANCISCO, June 26
SAN FRANCISCO, June 26 Couchbase, a company that
helps companies deal with the vast troves of data scattered
around the Internet, said on Thursday it raised $60 million,
further enabling it take on incumbents such as Oracle Corp
and Microsoft Corp.
The company, whose name is a combination of related
technologies known as CouchDB and Membase, helps companies store
data in a way that makes it work better with cutting-edge
applications and other Internet innovations. Those are the
task-specific software programs that increasing numbers of
consumers use multiple times each day, often on theit mobile
The type of database system developed by Couchbase, known
as NoSQL, is displacing older types of database systems such as
Oracle's MySQL and Microsoft SQL. The newer systems offer more
flexibility than the older ones.
Spending around NoSQL technology, including on software
development, license fees, and hardware, should reach $3.4
billion by 2020, according to consultancy Market Research Media
Ltd, up from less than $1 billion last year.
Couchbase competitors include MongoDB, which has raised $231
million from venture firms such as Union Square and Sequoia
Capital, and DataStax, which has raised $84 million from backers
such as Meritech Capital and Lightspeed Ventures.
New backers in Couchbase's latest funding round include
WestSummit, whose partner Raymond Yang will join Couchbase's
board, and Accel Growth. Another family of funds from Accel had
previously invested in Couchbase.
Existing investors include Adams Street Partners, Ignition
Partners, Mayfield Fund, and North Bridge Venture Partners.
Couchbase has raised $115 million since its founding in 2009,
and counts businesses such as music service Beats and retailer
Wal-Mart Stores Inc among its customers.
(Reporting by Sarah McBride)