US database firm NuoDB lands $14.2M funding for sales and marketing
Database company NuoDB has secured $14.2 million in a financing round led by European software firm Dassault Systemes, according to TechCrunch.
Existing investors Morgenthaler Ventures, Longworth Venture Partners, and Hummer Winblad Venture also contributed to the funding. The database firm previously raised $10 million in its 2012 Series B round. The latest funding brings NuoDB's total raised capital to $26.2 million, the report detailed.
The NuoDB said that last year, its efforts were concentrated on making its database generally available and attracting its first clients. This year, the Massachusetts-based firm wants to focus on beefing up its sales and marketing workforce using the new capital, the report explained.
NuoDB was founded by Jim Starkey and Barry Morris, and was launched in 2010. The users of the company's database product include AutoZone, Zombie Studios, DropShip Commerce, and 11,000 developers all over the world. The firm said expects its revenue to have a 300% growth in 2014, TechCrunch reported.