Elasticsearch enjoys $70 million cash injection
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.