HomeNetherland-StartupsAmsterdam-based Elasticsearch closes Series B round of $24 million

Amsterdam-based Elasticsearch closes Series B round of $24 million

Elasticsearch, the Amsterdam-based startup behind the popular real-time search and analytics open source project, today announced it has secured $24 million in Series B financing led by Mike Volpi from Index Ventures.

The Series B round includes contributions from existing investor Benchmark Capital and new investor SV Angel. Elasticsearch also announced that it has passed the two million downloads milestone, indicating the overwhelming demand for a single data search and analytics solution that’s powerful, yet easy to use.

According to the young company, the funds will be used to improve its ability to meet and support the increase in customer demand for Elasticsearch by attracting top talent. Furthermore, Elasticsearch is now in a position to fully execute on its vision without compromise. Elasticsearch is one of the fastest-growing open source projects in the market, with approximately 200,000 downloads per month and a total of two million downloads.

Search is changing: Today’s search is a combination of real-time free text search, structured search and advanced analytics capabilities, which allows anyone to easily explore large volumes of distributed data. Elasticsearch takes the pain out of scaling and maintenance. Built for a distributed environment, new nodes are provisioned automatically without any downtime, and re-balancing and routing are done behind the scenes.

Shay Banon, CTO and Creator of Elasticsearch, stated: “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.”

Steven Schuurman, CEO, Elasticsearch, added: “Since we founded the company, the demand for our support and training offerings has experienced explosive growth. On a tactical level it’s vital we attract the best talent to support our customers and deliver on our product engineering ambitions as the adoption of Elasticsearch continues to accelerate. On a more strategic level, this round of investment frees us to execute on our vision, whilst adding an invaluable board member to the team.”

Ron Conway, the Founder of SV Angel, said: “As an early investor in Google, I know how transformative search can be. Elasticsearch is bringing the power of that kind of search to companies every day, helping them analyze and understand their own data quickly and easily.”

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Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).

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