Database Startup NuoDB Grabs $17M From Previous Backers
[Corrected and updated 2/23/16, 7:42 a.m. See below.] NuoDB, part of a pack of database-technology startups in the Boston area, just scooped up $17 million from investors as it tries to make a bigger dent in the sector.
Founded in 2008, the Cambridge, MA-based company has now raised $59.7 million total in venture capital, a spokeswoman says. NuoDB says the new money comes from existing investors, including Hummer Winblad Venture Partners, Longworth Venture Partners, and Morgenthaler Ventures. [This paragraph was updated to include the latest funding total.]
The funding will be used for product development and sales and marketing. It’s the first financing round NuoDB has raised since it promoted Bob Walmsley to chief executive last July. Walmsley took over for founding CEO Barry Morris, who is now executive chairman.
The company employs 63 people and plans to hire 17 more this year, the spokeswoman says. [An earlier version of this paragraph misstated the number of expected hires.]