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February 06, 2013
Samsung Ventures Adds Cloudant to its Portfolio
BOSTON, Feb. 6 – Cloudant, a leading provider of a globally distributed database-as-a-service (DBaaS), today announced that Samsung Venture Investment Corporation (Samsung Ventures) has made a strategic investment. The funding will be used to advance research and development to further improve global data distribution technologies and mobile application data management.
Global data distribution, mobile replication and synchronization, expert monitoring, and scalable performance are key features demanded by government agencies, enterprise customers, and small- to medium-sized businesses. As the number of mobile and Internet-enabled devices grows exponentially, so does the data associated with these devices. In order to store, process, transfer, and manage the volume and complexity of this data, organizations are increasingly turning to Cloudant's highly scalable NoSQL DBaaS. Cloudant is able to distribute application data across a global network of highly secure, high-performance data centers while providing non-stop data access with low-latency for its customers.
"Samsung Ventures believes a globally distributed data layer and management of that data is especially critical for large enterprise businesses," said Hyuk-Jeen Suh, Senior Investment Manager with Samsung Ventures America. "We felt that this is the right time to strategically invest in Cloudant to support the company's vision to manage the proliferation of data to be created by, for example, mobile devices, machine-to-machine (M2M) technologies, and the 'Internet of things' in the future."
"Cloudant looks forward to enhancing our research and development efforts, especially in the mobile technology platform, to accelerate our progress in the market for database-as-a-service," said Cloudant CEO Derek Schoettle.
About Samsung Venture Investment Corporation
Samsung Venture Investment Corporation manages investment and investment-related activities for Samsung affiliate companies. The investment mandate for Samsung Venture Investment Corporation tracks closely to the strategic priorities of Samsung affiliate companies' core operating divisions, and encompasses investments in semiconductors, displays, telecommunications, and consumer electronics.
About Cloudant
Cloudant provides the world's first globally distributed database-as-a-service (DBaaS) for loading, storing, analyzing, and distributing application data for developers of large and/or fast-growing Web and mobile applications. Cloudant's DBaaS is a managed service that helps developers eliminate the delays, costs, and distractions inherent in working with databases and their administrators, while providing unmatched scalability, availability, and performance. This capability accelerates time-to-market and time-to-innovation because it frees developers from the mechanics of data management so they can focus exclusively on creating great applications. Cloudant is privately held and backed by top-tier investors including Avalon Ventures, In-Q-Tel, Samsung Venture Investment Corporation, and Y Combinator.
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