AsterData gets $30 mill in funding

From the press release, the maker of Map Reduce based BI software gets 30 mill $ as Series C funding. Given the valuation recently by IBM to Netezza, AsterData seems set to cross the Billion Dollar valuation within the next 18-24 months IMO

Aster Data Closes $30 Million Series C Financing

Explosive Growth and Market Leadership Attracts New and Existing Investors

San Carlos, CA – September 22, 2010 – Aster Data, a market leader in big data management and advanced analytics, today announced that it has closed a $30 million Series C round of financing led by both new and existing investors. The company will use the new funding to accelerate growth, scale operations, and expand its global market share in the $20 billion database market – a market that is experiencing rapid growth as a result of both the explosion in data volumes across organizations and the urgent need to deliver a new class of analytics and data-driven applications. The Series C round of funding includes previous investors Sequoia Capital, JAFCO Ventures, Institutional Venture Partners, Cambrian Ventures, as well as an additional new strategic investor.  Also investing in this round is early investor David Cheriton, who previously backed high-growth companies including Google and VMware, and co-founded several successful technology companies.

Today’s Series C funding announcement underscores a year of strong innovation, execution, and overall momentum for the analytic database company. Key milestones include:

Strong sales growth: Since 2008, Aster Data has doubled revenue year-over-year and secured key customers that leverage Aster Data’s platform to address the big data management problem including MySpace, comScore, Barnes & Noble, and Akamai. Like so many organizations today,
Aster Data’s customers are experiencing explosive data growth across their organizations and recognize the need for rich, advanced analytics that give them deeper insights from their data.

Key executive hires: Quentin Gallivan, former CEO of both PivotLink and Postini and EVP of worldwide sales at Verisign, recently joined the company as Chief Executive Officer. In addition, earlier this year, John Calonico, previously at Interwoven, BEA, and Autodesk, joined as Chief Financial Officer; and Nitin Donde, formerly an executive at EMC and 3PAR, joined as Executive Vice President Engineering.  The strength and experience of Aster Data’s management team helps further establish a strong operational foundation for growth in 2010 and beyond.

Industry recognition: Aster Data was positioned in the “Visionaries” Quadrant of Gartner, Inc.’s

Data Warehouse Database Management Systems Magic Quadrant, published 2010 *; was recently named 2011 Tech Pioneer by the World Economic Forum; was named “Company to Watch” in the Information Management category of TechWeb’s Intelligent Enterprise 2010 Editors’ Choice Awards; and was awarded the 2010 San Francisco Business Times Technology and Innovation Award in the Best Product and Services Category.

Product Innovation: Aster Data continues to deliver ground-breaking capabilities to address the big data management and advanced analytics market need. Its recent announcement of
Aster Data nCluster 4.6 includes a column data store, making it the first hybrid row and column MPP DBMS with a unified SQL and MapReduce analytic framework for advanced analytics on large data sets. This year, Aster Data also delivered the most extensive library of pre-packaged MapReduce analytics totaling over 1000 functions, to ease and accelerate delivery of highly advanced analytic applications.

Aster Data’s analytic database, also called a ‘Data-Analytics Server’ is specifically designed to enable organizations to cost effectively store and analyze massive volumes of data. Aster Data leverages the power of commodity, general-purpose hardware, to reduce the cost to scale to support large data volumes and uniquely allows analysis of all data ‘in-database’ enabling richer and faster processing of large data sets. Aster Data’s in-database analytics engine uses the power of MapReduce, a parallel processing framework created by Google.

”The funding we received in our Series C round is a strong endorsement of Aster Data’s market leadership position and the high growth potential of the big data market,” said Quentin Gallivan, Chief Executive Officer, Aster Data. “The Aster Data team has executed exceptionally well to-date and I am excited to have the resources to accelerate the growth of the company as we expand our operations and execute aggressively across all fronts.”

Aster Data hires Quentin Gallivan as CEO

AsterData formally marked phase 2 of it’s rapid growth story by getting as new CEO Quentin Gallivan (of Postini before it was sold to Google and also Pivotlink).

Founders (and Stanfordians) Mayan Bawa stays as Chief Customer Officer and Tasso Argyros as CTO. It has a very deja vu feel -like Eric Schmidt coming in CEO of Google in the glory days past.  Indeed the investment team in Google and AsterData is quite similar and so are the backgrounds of the founders.

AsterData of course creates the leading MapReduce (also created by Google) solution for providing BI infrastructure for big data and has been rapidly been expanding into new frontiers for Big Data.

Aster Data Appoints New Chief Executive Officer

Quentin Gallivan Joins Aster Data as CEO to Lead Company to Next Level of Growth

San Carlos, CA – September 9, 2010– Aster Data, a proven leader dedicated to providing the best data management and data processing platform for big data management and analytics, today announced the appointment of Quentin Gallivan as President and CEO. Gallivan brings more than 20 years of senior executive experience to the leading analytics and database company. With Aster Data achieving tremendous growth in the past year, Gallivan will take Aster Data to the next level, further accelerating its market leadership, sales, channel partnerships and international expansion.  Founding CEO Mayank Bawa, who grew the company from its inception based on the founders’ research at Stanford University, and whose passion for helping customers uniquely unlock the value of their data, will take on the role of Chief Customer Officer.  Bawa, in his new role, will lead the Company’s organization devoted to ensuring the success, longevity and innovation of its fast-growing customer base. Together, Gallivan and Bawa, along with co-founder and Chief Technology Officer, Tasso Argyros, will deliver on the the Company’s mission to help customers discover more value from their data, achieve deep insights through rich analytics and do more with their massive data volumes than has ever been possible.

Gallivan joins Aster Data with over 20 years of leadership experience in the high-tech industry and has held a variety of CEO and senior executive positions with leading technology companies. Before joining Aster Data, Gallivan served as CEO at PivotLink, the leading provider of business intelligence (BI) solutions delivered via Software as a Service (SaaS), where he rapidly grew the company to over 15,000 business users, from mid-sized companies to Fortune 1000 companies, across key industries including financial services, retail, CPG manufacturing and high technology. Prior to Pivotlink, Gallivan served as CEO of Postini where he scaled the company to 35,000 customers and over 10 million users until its eventual acquisition by Google in 2007.  Gallivan also served as executive vice president of worldwide sales and services at VeriSign where he was instrumental in growing the business from $20 million to $1.2 billion and was responsible for the design and execution of the global distribution strategy for the company’s security and services business. Gallivan also held a number of key executive and leadership positions at Netscape Communications and GE Information Services.

“We are delighted to have someone of Quentin’s caliber, who is a veteran of both emerging and established technology companies, lead Aster Data through our next stage of growth,” said Mayank Bawa, Chief Customer Officer and co-founder, Aster Data. “His significant experience around growing organizations and driving operational excellence will be invaluable as he takes Aster Data forward. I’m excited to shift my focus to customers and their success; to bring our innovations to our customers worldwide to help them unlock deep value from their growing data volumes.”

“I am very excited to be joining Aster Data and taking on the challenge of augmenting its already impressive level of growth and success.  Aster Data is very well respected and established in the marketplace, has an enviable solution for big data management that uniquely addresses both big data storage and data processing, an impressive client list and a very talented team,” said Quentin Gallivan, President and CEO, Aster Data. “My task will be to leverage these assets, help shape a new market and provide operational guidance and strategic direction to drive even greater value for shareholders, customers and employees alike.”