ISRAEL – DragonflyDB, a Tel Aviv, Israel- and San Francisco, CA-based provider of an in-memory datastore for cloud environments, raised $21M in two funding rounds.
A seed round was led by Redpoint and a series A was led by Quiet Capital. Satish Dharmaraj of Redpoint Ventures and Astasia Myers of Quiet Capital have both joined the DragonflyDB Inc. board. The company intends to use the funds to evolve the technology to handle larger, more sophisticated workloads.Founded in March 2022 by Oded Poncz and Roman Gershman, DragonflyDB provides a scalable in-memory datastore for cloud environments. It has a caching algorithm paired with a multi-threaded processing model, allowing it to scale vertically to support millions of operations per second and terabyte-size data volumes from each instance. The company is also announcing the general availability of Dragonfly 1.0., a production-ready, highly available drop-in replacement for Redis. 21/03/2023
