Tesora Takes In $4.5M to Advance Database as a Service
A local tech startup has some new money to push its vision of making database-as-a-service useful for enterprise customers.
Cambridge, MA-based Tesora, formerly known as ParElastic, says it has raised $4.5 million from new investor Rho Canada Ventures and previous investors, including General Catalyst, CommonAngels Ventures, and Point Judith Capital. The company now has raised $13.2 million to date.
In early 2014, the company pivoted from trying to extend the capabilities of existing databases, making them more “elastic” and flexible, to developing and supporting OpenStack Trove, a system for managing database capacity in an on-demand way. It also changed its name from ParElastic to Tesora (which means “treasure” in Italian.)
At around the same time, another Boston-area database-as-a-service startup, Cloudant, was acquired by IBM. The field of database-as-a-service has been growing in recent years, fueled by the challenges of administering multiple databases in the cloud, as well as interest from big players like Oracle, IBM, and Microsoft.
Tesora is led by co-founders Ken Rugg and Amrith Kumar, who are veterans of Progress Software and Netezza.