Basho Closes Initial $3.5 Million of $7.5 Million Series D Financing

Basho Technologies, Inc., a distributed data store enterprise software company, has held an initial closing of $3.5 million on a total Series D equity financing of $7.5 million.

The balance of funding was scheduled to close in April, 2011. The participating investors include Georgetown Partners, a private investment firm based in Bethesda, Maryland, and Trifork A/S, an IT systems integration company based in Aarhus, Denmark. With the investment, Chester Davenport, Managing Director of Georgetown Partners, and Joern Larsen, CEO of Trifork A/S have joined the Board of Directors of Basho.

"This is an exciting day for Basho and all of its shareholders," Said Earl Galleher, Chairman and CEO of Basho Technologies. "Georgetown Partners and Trifork will add enormous value to our financing and go-to-market plans. If the enterprise IT market has not yet learned about Riak, it will soon."

In addition to its investment in Basho, Trifork A/S will also resell Basho’s enterprise data store software technology product, Riak, throughout Europe. Basho will use the capital investment to continue building out its groundbreaking technology platform, in addition to increasing its visibility and leadership position in its emerging market sector.

"Riak is a groundbreaking and unique database technology, which with speed, stability and economy of scale will be an important component in future cloud solutions," said Joern Larsen, CEO of Trifork A/S. "As a reseller of Riak and investor in Basho, our customers and our investors will get exposed to the value of both."

Founded in 2008 by former Akamai Technologies executives and senior engineers, Basho designed Riak to free corporations from the constraints of traditional, highly centralized database architectures (like those offered by Oracle, IBM, Microsoft, etc.). Enterprises like Comcast, Wikia Inc., Mozilla, and Vibrant Media use Riak not just as an alternative to traditional databases, but as the cornerstone for previously un-contemplated application architectures.

Applications built with Riak can sustain catastrophic server, data center, and network failures without outages while avoiding the complexity and expense that characterize applications built using traditional data architectures. Optimized for the most demanding web and cloud-based architectures, organizations building applications using Riak can scale out dynamically to handle sudden surges in load and scale back when load decreases to reduce expenses.