press releases•April 20th, 2021
Era Software Announces $15.25 Million in Series A Funding and EraSearch Cloud to Modernize Enterprise Data Management
Era Software is proud to announce the close of a $15.25 million Series A round led by Playground Global. This brings total funding raised to over $22 million; Playground Global is joined in this round by existing investors Foundation Capital, Array Ventures, and world-class angel investors.
SEATTLE - April 20, 2021 - Era Software, the company that created EraDB to help enterprises manage hyperscale, cloud-native workloads, today announced the close of a $15.25 million Series A round led by Playground Global. This brings total funding raised to over $22 million; Playground Global is joined in this round by existing investors Foundation Capital, Array Ventures, and world-class angel investors. Era Software will use the capital raised to further accelerate product development, grow the team, and expand use cases. The company also today announced a private beta of its EraSearch Cloud product to bring its transformational log management technology to organizations as a managed service. Prior to its Series A, Era Software was known as EraDB, which will remain the moniker for the company’s novel time-series architecture.
“Playground Global is excited to partner with the team at Era because we believe that managing the ever-expanding data workloads of the future will require continual innovation at the infrastructure level,” said Peter Barrett, a founder and general partner at Playground Global who has joined the board at Era Software. “With this group of experienced executives and their deep technological insights, we are confident that the company will be an innovative force in the data infrastructure market.”
Today, organizations are moving to modern, cloud-native architectures and are also faced with managing gigabytes, terabytes, and petabytes of new data every day. To help these organizations make sense of these exploding data volumes, Era Software has pioneered its EraDB architecture and is introducing verticalized products to support specific data workloads. On Feb. 10, the company launched EraSearch, a product for log management that is focused on helping companies move away from their expensive and complex Elasticsearch deployments. EraSearch can help these organizations reduce their hardware and operational costs.
EraDB co-founder and CEO Todd Persen is no stranger to the world of time-series data. He was previously a co-founder and CTO at InfluxData, creators of the InfluxDB time-series database. Todd and the team at Era Software are creating tools to deal with the challenges of managing large volumes of data, with a particular focus on data that is becoming increasingly complex. Because this high-cardinality, high-dimensionality data is emerging at a rate faster than traditional databases can keep up with, organizations are forced to pay exponentially-increasing costs for clunky, ill-designed, unscalable, and expensive solutions that not only put unnecessary tension on operating margins but require a growing level of engineering infrastructure to manage.
“This is a huge milestone for us as a company and validation of the products that we’ve built. We continue to hear from businesses of all sizes that are looking to embrace a new generation of storage technologies like EraSearch that can deliver an easy-to-manage experience with a low TCO. We look forward to our new partnership with Playground Global and the opportunity to help enterprises manage and extract valuable insights from their ever-increasing data volumes,” said Persen.
EraSearch Cloud will allow companies to easily deploy log management infrastructure that is less complex, more performant, and extremely cost-effective even for long retention durations. By improving on a traditional decoupled storage and compute architecture, EraSearch is able to provide lightning-fast access to logs in real-time, while ensuring that durable copies of data always live within object storage, such as on Amazon’s Simple Storage Service (S3), Google Cloud Storage (GCS), or Microsoft Azure Blob Storage. Available now, EraSearch dramatically reduces cloud hardware and operational costs. EraSearch benefits companies of all sizes regardless of their data volumes.
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About Era Software
Era Software is the creator of EraDB, a novel time-series database architecture built on the core principles of decoupled storage and compute, a true zero-schema data representation, and flexible indexing powered by machine learning, all of which allow you to significantly reduce the size, cost, and complexity of your data while still giving you lightning fast queries across vast datasets. The company’s first verticalized product, EraSearch, incorporates these innovations into a familiar interface that is focused on serving the enterprise log management market. Find out more at era.co and erasearch.co.
For Era Software:
For Playground Global:
Allison Braley, [email protected]