Database and Streaming Technology Innovations, Funding Activity, and a Strategic Acquisition Position DataStax to Bring Real-Time AI to Any Business
DataStax, the real-time AI company, today announced a strong close to its latest fiscal year, which was marked by continued company growth, expanding customer adoption, technology innovations, and a fresh brand to fuel a new company mandate: real-time AI for everyone.
The year was marked by major milestones including the general availability of Astra Streaming – the fully-managed messaging and event streaming service built on Apache Pulsar™– a $115 million round of funding led by Goldman Sachs Asset Management, and the acquisition of machine learning company, Kaskada.
The recent addition of Kaskada technology to DataStax’s portfolio of cloud services—which today includes the massively scalable Astra DB database-as-a-service built on Apache Cassandra® and event streaming with Astra Streaming—will give organizations a single environment to easily and cost-effectively deliver applications infused with real-time AI, using an advanced ML/AI model proven by industry leaders such as Netflix and Uber.
“It was another banner year for DataStax, topped with a clear, new company mandate: make it possible for anyone with real-time data to do real-time AI,” said Chet Kapoor, DataStax chairman and CEO. “We’re supporting a vibrant and growing group of organizations who depend on DataStax to manage massive amounts of data in real time. Our customers look to us to help them build and scale real-time applications at speed, on any cloud, and we’ve been delivering – in FY23 the majority of our growth can be attributed to the healthy adoption of Astra DB across our customer base. There’s so much momentum propelling us forward; I’ve never been more confident in DataStax’s future.”
In the company’s latest fiscal year, enterprises and developers increasingly recognized the power, simplicity, and low total cost of ownership of Astra, fueling approximately 150% growth in Astra annual recurring revenue year-over-year, which contributed to over 60% of company growth.
In addition, product and technology advancements from the company helped drive new customer acquisition, leading to a 40% growth in new DataStax logos year-over-year. Innovations in Astra DB like change data capture (CDC) to process event changes in real time, multi-region database enhancements to provide multiple data consistency options, a new Astra Command Line Interface, and the Astra DB Plugin for HashiCorp Vault drove demand, alongside collaborations with Intel and partnerships with companies like Decodable and Voltron to help to accelerate the business impact of real-time data. DataStax also delivered a new version of the award-winning Stargate open source data API gateway for Cassandra and achieved PCI compliance on AWS.
“When Turntide decided to stop managing our own data infrastructure on Cassandra, only Astra DB on Google Cloud could clearly demonstrate an ability to save us time and drastically reduce our TCO via a fully managed platform and serverless architecture,” said David Leimbrock, Director Of Software at Turntide Technologies. “It will also help us scale beyond our current data infrastructure’s limitations while ensuring our resources’ highly efficient use.”
In Q4 customers like Alpha Ori Technologies, ACI Worldwide, AUDI, AutoZone, Bizzabo, Freshworks, Lucy Electric, Monumetric, Rambus, Tech4Billion Media Private, TextKernel, Turntide Technologies, and more signed new or expansion deals with DataStax to grow their businesses with real-time data.
“We found DataStax Astra DB to be over 40% more cost-effective than self-managed solutions like Scylla DB,” said DJ Gillespie, Lead Software Engineer/Architect at Monumetric. “Astra DB allows us to leverage the power of Cassandra without the operational burdens. With Astra DB’s distributed scalability and speed across regions, we are able to deliver a fast and reliable experience for our customers.”
“ACI Worldwide’s Merchant Fraud solution processes millions of daily transactions for our clients,” said John Madden, Sr. Architect, ACI Worldwide. “We use DataStax to help us quickly fetch and store critical historical data to aid in the fraud analysis of each order. We pride ourselves on our ability to scale our solution to cater to higher volumes of traffic, while maintaining ultra-low response times, and DataStax helps us to keep these promises.”
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