Devonshire Investors, the corporate venturing unit of mutual fund manager Fidelity, has invested $12m alongside Rackspace Hosting and Toba Capital in Cloudant, a US-based distributed database-as-a-service (DBaaS) company.
The series B round has also seen Cloudant’s existing investors In-Q-Tel, Avalon Ventures and Samsung Venture Investment Corporation increase their shares in the company.
The funding will be used to support Cloudant’s global expansion and grow the company’s support, service, and go-to-market strategies, said the company in a press statement.
David Jegen, managing director at Devonshire Investors, said: “The market opportunity for managed, hosted databases is large, and the NoSQL model is where major mobile and Web applications are moving.
“We are seeing that shift accelerate across the industry with Cloudant in the sweet spot of this market, adding big customer names with a highly scalable and durable DBaaS.”
In addition to the recent fundraising the company will also soon open a new office in San Francisco. Market demand recently drove the company’s expansion into the UK with an office in Bristol, and both new locations complement Cloudant’s Boston headquarters and Seattle office.
Momentum in the enterprise market has also helped the company court new investors like Vinny Smith at Toba Capital, the former CEO of Quest Software, which he led to IPO and a $2.4bn acquisition by Dell.