Accel Partners leads Series C round for India's ScaleArc
Accel Partners has led a $12.3 million round of Series C funding in ScaleArc, a database infrastructure software company founded by Mumbai entrepreneur Varun Singh.
Existing investors Trinity Ventures and Nexus Ventures, from whom ScaleArc had raised $5.33 million in 2011, will also take part in the round.
ScaleArc, which has operations in Mumbai and Silicon Valley, will use the new funding to invest in sales and marketing to support its global expansion in the Big Data market as well as general product development.
The company's flagship product, ScaleArc iDB, is a software that gives visibility into an application's data base and helps solve scaling issues that plague on-demand software providers. Existing customers include Demand Media, Disney UTV, Sazze, Flipkart and Weather Decision Technologies.
"We continue to be impressed with the company's innovative approach to solving a key Big Data problem, as well as its significant customer traction with well-documented ROIs," said Sameer Gandhi, general partner at Accel Partners in a statement. "We look forward to working with them as they continue their global expansion."
Singh added that ScaleArc is well positioned to offer an infrastructure platform for applications that use a wide variety of databases such as MySQL, Oracle or Microsoft SQL Server.
Following the success of India's software and BPO industry, Big Data and web intelligence is set to be the next big opportunity as internet-based companies have to grapple with increasing large datasets.
In August last year, Fidelity Growth Partners India committed $20 million to AbsolutData, a San Francisco-based data analytics services provider with offices in Gurgoan, with a view to helping to company scale up its global delivery footprint. The largest deal in this segment came earlier in the year when General Atlantic (GA) led a $108 million round for another India-focused analytics services provider, Mu Sigma.
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