19. February 2013–
Amsterdam-based open source search engine project Elasticsearch has announced $24m in Series B funding, less than four months after the startup’s $10m Series A round.
The funding round was led by Index Ventures partner, Mike Volpi, a former Cisco executive. Also involved in the financing was existing financier Benchmark Capital and new investor SV Angel, which was one of the first investors in Google.
The leadership team from Elasticsearch – which provides real-time search and analytics solutions – says they will use the funding to hire top talent and to support the increase in demand for the service.
The financing is the second round of good news for the company, which also announced it has passed the two million download mark for its open source project. Elasticsearch is currently downloaded roughly 200,000 times per month.
Creator and CTO of Elasticsearch, Shay Banon, said: “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 organisations everywhere. With Elasticsearch, users can now browse through vast amounts of data and innovate more effectively than ever before.”
The service has some fans in the Berlin startup community, including the team at SoundCloud, which uses the Elasticsearch service. Alexander Grosse, Vice-President of Engineering at the music sharing startup, said: "SoundCloud... connect(s) people through sound by making it easy to discover and share audio and music once it has been created. Elasticsearch allows us to provide our engaged community with immediate, relevant results while offering us a continued path for scaling, consistency, and reliability."
Image credit: Flickr user JMR_Photography