Reed Elsevier Ventures, the corporate venturing division of Anglo-Dutch publishers, has led a $1.1m funding round in SpaceCurve, a US-based developer of database services.
Tony Askew, managing director of Reed Elsevier Ventures, has joined SpaceCurve’s board after the round in which venture capital firm Divergent Ventures also participated.
Askew said: “Spacecurve is a groundbreaking company. Andrew Rogers, the founder and CEO, has created a fundamentally new kind of massively parallel analytical database technology. This technology enables very fast and complex analytics to be run on massive datasets without any performance degradation due to the size, volume or variety of the data sources. It solves a key problem of massive data and it is ideally suited for geo-spatial analytics and social graphing – two of the big problem sets that traditional approaches struggle with, especially at scale. We are delighted to be leading the round and look forward to working with Andrew and his team."