Big Data Firm Elasticsearch Raises $24m

Amsterdam-based big data search and analytics firm Elasticsearch has secured $24m in Series B funding, which it says it will use to meet the increase in demand for its products by recruiting further staff.

The company's open source engine uses a combination of free text search, structured search and advanced analytics capabilities, to enable users to explore large volumes of data and 'eliminate the need' for an in-house team of data scientists.

Since its launch six months ago, it has raised a total of $34m, with this latest wave led by Index Ventures, with support from existing investor Benchmark Capital and new investor SV Angel.

Shay Banon (pictured), CTO and Creator of Elasticsearch, comments: 'What we see today is that search has become the main driver for data exploration. Real-time, free-text search, structured search and analytics have become the information backbone for organizations everywhere. With Elasticsearch, users can now browse through vast amounts of data and innovate more effectively than ever before.'

Web site: www.elasticsearch.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.