Wednesday, November 2, 2011

Basho brings in $5M in 2nd round of 2011

By Kyle Alspach, Boston Business Journal

Big data storage firm Basho Technologies Inc. said Tuesday it has raised a $5 million inside round, its second fundraise announced this year.

The Cambridge-based company said the funding would allow the firm to “aggressively advance engineering and market development” of its Riak database software. The distributed data store enterprise software aims to serve the fast-growing NoSQL big data storage market, Basho said.

Past investors in Basho have included private equity firm Georgetown Partners and Danish systems integrator Trifork AS. The funding brings the total raised by the company this year to $12.5 million, following a $7.5 million round that closed in May.

Basho also announced Tuesday it is licensing its software to a Denmark government agency, which will use the software to power its national Shared Medicine Card program.

The announcements follow the company’s appointment in June of a new CEO, at the same time it announced it had closed this year’s other fundraise, a $7.5 million Series D round. Basho named a veteran executive of Accenture Plc (NYSE: ACN), Donald J. Rippert, to the post.