Clusterpoint raises EUR1 million from BaltCap
BaltCap, a leading venture investor in the Baltics, has signed a EUR1 million investment in Clusterpoint, an ultra-fast database management system with built-in Internet-style search functionality.
The company is an enterprise software start-up created by Latvian programmers and backed by seed investors from the UK and the Baltics.
Clusterpoint has built a highly scalable database platform designed for cloud computing infrastructure. Clusterpoint’s database software provides superior performance on modest hardware so that it delivers greater energy-efficiency in data centres. The company has paying customers and revenue and will use BaltCap’s investment to expand internationally, including hiring senior management in the US.
Gints Ernestsons, Clusterpoint’s co-founder and CEO, says: “Our customers like how Clusterpoint adds value to their data-intensive businesses while reducing the number of transactions required to access relevant data. Clusterpoint’s software is particularly well suited to cloud computing and data centres looking to improve performance and cost-efficiency. Our team of top class programmers has designed and built a compelling product comprising natively scalable NoSQL database software with lightning-fast integrated full-text search in structured and unstructured data. Our unique ranked indexing method delivers nearly linear database scalability in clusters. We look forward to working with BaltCap during our next growth phase.”
“We are impressed by the strength of the technology that Clusterpoint has built, with the expert competence of the founders and team, and we believe that Clusterpoint can scale into a highly successful international business,“ says Mārtiņš Jaunarajs, Investment Director at BaltCap.
BaltCap Latvia Venture Capital Fund investing in Clusterpoint comprises commitments from private investors as well as from the EU-sponsored JEREMIE programme which is administered by the Latvian Guarantee Agency.