ReadySet Raises $29M for a SQL Caching Engine that Empowers Developers to Build Performant, Real-Time Applications

Published

Led by Index Ventures and Amplify Partners, funds will be used to launch the first version of the cloud product and double the team over the next year.

--News Direct--

ReadySet announced $24M in Series A funding today led by Index Ventures with participation from Amplify Partners and several angels including Guillermo Rauch, Spencer Kimball, Adam Gross, Jason Warner, and Yury Izrailevsky. With the funding, ReadySet will deliver the first version of its cloud product and continue to expand its team. The company previously raised a $4.9M round led by Amplify Partners last year.

ReadySet was co-founded by Alana Marzoev and Jon Gjengset, and is based on their MIT PhD work on the popular open research project, Noria. ReadySet aims to productionize and expand upon the breakthrough technology introduced by this research.

“Historically, websites have gone down at the least opportune time for the business - think Cyber Monday for eCommerce. ReadySet helps companies overcome the data layer growing pains associated with rapid growth and business demand,” said Bryan Offutt, partner at Index Ventures. “The technology was developed over the past decade at MIT, with clear market demand. We’re thrilled to partner with Alana and Jon to deliver a commercial version to developers worldwide.”

ReadySet provides a drop-in solution to the database performance problems that often arise when a company is in a phase of rapid growth, such as when dealing with large datasets, complicated queries, or high request volumes. To mitigate this problem today, developers must build in-house solutions based on custom query caching systems and read replica hierarchies. The resulting systems are complex, expensive, and prone to failures and outages.

“Our investors are betting on the continuous need for companies to deliver ever-changing content quickly while servicing large and globally distributed user bases,” said Alana Marzoev, ReadySet co-founder and CEO. “ReadySet serves SQL query results globally in the same way that traditional CDNs serve static content such as images. You can think of a multi-region ReadySet deployment as being a CDN for your database.”

At its core, ReadySet accelerates queries via a novel SQL caching engine that keeps cached state up-to-date automatically while supporting millions of reads per second with sub-millisecond latencies on a single node. ReadySet slots in front of existing relational databases and is wire-compatible with MySQL and Postgres so it can be integrated into existing applications without code changes.

About ReadySet:

Founded by MIT data systems researchers, ReadySet is a database acceleration company that helps developers build performant and real-time applications. Backed by Index Ventures, Amplify Partners, and Sequoia Capital, ReadySet is a remote-first company with offices in multiple US cities.

About Index Ventures:

Index Ventures is a venture firm investing in the next generation of entrepreneurs from seed to IPO. We partner with founders with bold dreams that challenge the status quo to build enduring companies. With offices in San Francisco & London, we invest in entrepreneurs all over the world. Generational Index-backed companies include Confluent, Datadog, Discord, Elastic, Starburst, Temporal and Roblox.

Contact Details

Owen Media

Forrest Carman

+1 206-859-3118

forrestc@owenmedia.com

Company Website

http://readyset.io

View source version on newsdirect.com: https://newsdirect.com/news/readyset-raises-29m-for-a-sql-caching-engine-that-empowers-developers-to-build-performant-real-time-applications-578630556