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Elasticsearch enjoys $70 million cash injection

Lucy Carey
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Proving that open source can indeed bring in the goods, Apache Lucene grounded data engine has now racked up a total of $100m over past 18 months.

 

Following a ‘milestone’ 1.0 release in February,
the company behind Java based open source search engine
Elasticsearch have had more big news for 2014, having secured
themselves a tidy 70 million in U.S dollars from investors this
month. This is the third big round of funding for the Elasticsearch
in the space of 18 months, but with initial bursts achieving 10 and
24 million, this is by far the most significant.

Elasticsearch, which sits on an Apache Lucene
4.6.1 base, allows for data to be split into multiple shards, as
well as for replication of the data across one or more nodes.
Whilst Elasticsearch provides a concise, user friendly API and
scalability, all things that relate to the algorithms for matching
text and stashing optimized indexes of searchable terms are
implemented by Lucene. Also bundled with this is a set of
operational tools provided by Elasticsearch.

The software offers a “holy
triangle
” of functions, including data exploration
capabilities, unstructured search, structured search and
aggregations or analytics, is a rising star on the increasingly
crowded data solutions market.

According to creator Shay Banon, “By combining
those three areas in a single product, users find themselves
empowered with what they can do with their data.” Big name adopters
to date include the Guardian newspaper and Bloomberg LP, who both
use it for consumer-facing search functions and internal

query systems
, and NetFlix, Facebook and
Comcast are also fans.

The company intend put their latest big cash
injection into funding commercial extensions to their software, as
well as beef up their sales teams to help spread the Elasticsearch
gospel. They will almost certainly be investing in the eponymous
ELK stack – a powerhouse combo of Elasticsearch, logging tool
logstash, and data visualization engine Kibana. With market rivals
including Tableau and SiSense, Splunk and Sumo Logic, it’s the
singular stack that makes Elasticsearch stand out from the pack, as
well as its open source model. Whilst many big data providers have
opted for enterprise only, Elasticsearch shows that, done right,
open source doesn’t necessarily mean empty
coffers.

 

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