Imanis Data pulls in $13.5 million for databases protection
Imanis Data raised $13.5 million in a series B funding round and hired a new CEO as it aims to grow its business to protect next-generation NoSQL databases.
The Imanis Data Management Suite protects database platforms such as MongoDB, Cassandra, Couchbase as well as Hive and Hbase.
Founder and COO Nitin Donde said the San Jose-based company formerly known as Talena will use the new capital mostly to grow its sales and marketing teams. He said there will also be a “modest investment” in research and development.
Imanis Data previously raised $8 million in its series A funding round. Investors in the series A and B rounds include Canaan, ONSET Ventures, Intel Captial and Wipro Ventures. Asset Plus capital is a new investor for the B round. Imanis currently has 40 employees and it now plans to add 10 to 15 more employees.
“We expect a three to four-x increase in revenues (in the next year),” Donde said. “We also are aggressively looking at partners with existing channels but don’t have this kind of product suite.”
With the new funding, Donde is handing off the CEO position to John Mracek, who was CEO of machine learning company NetSeer and a vice president at eBay and Yahoo.
The Imanis Data Management product archives for long-term retention, backup, deduplication and data migration from on-premises data platforms to the cloud. The software uses machine learning to protect data in the event of a ransomware attack, accidental deletion or corruption, and copies production data for testing and development.
“We are bringing a new level of functionality to this nascent market,” Donde said.
Imanis’ product targets the same database market that recent Rubrik acquisition Datos IO went after. Datos IO RecoverX protects MongoDB, Cassandra, Couchbase and Amazon DynamoDB along with big data file systems like Cloudera and Hortonworks. In February, Rubrik acquired Datos IO to extend Rubrik’s reach into mission-critical cloud applications and databases that are being adopted by application and DevOps teams. Datos IO had $15.3 million in funding since 2014.