SAN MATEO, Calif., Oct. 27, 2020 (GLOBE NEWSWIRE) -- Rockset, the real-time indexing database company, today announced a new enterprise deployment model for real-time analytics within a company’s Virtual Private Cloud (VPC). Rockset’s fully managed cloud service for real-time analytics now enables customers to retain full control and ownership of data in their own AWS account for maximum security and compliance, without the operational overhead of managing the deployment. Today, Rockset also announced $40 million in Series B funding led by Sequoia with participation from Greylock to further accelerate the company’s momentum.
According to a recent survey by Deloitte, organizational efforts to move to the cloud are primarily driven by the need to increase security, modernize data stacks and lower operational costs. In fact, 58 percent of respondents in the survey ranked security as a top driver. Traditionally, enterprises installed and managed custom data stacks in the cloud in order to meet security standards that require data to reside in their own AWS VPC.
Rockset is taking an innovative approach to real-time analytics that gives enterprises the best of both worlds - high security and low ops - by delivering a cloud-native SaaS service that decouples the control plane and data plane. Service operations are fully managed through the control plane, while data never leaves the customer’s VPC, effectively delivering “self-driving private deployments.” With this new deployment model, Rockset is opening the door to modern and fully managed data services, while reducing operational overhead to nearly zero. Now enterprises can build modern data applications in a more secure environment.
“Unlike a warehouse that provides business insights on corporate data, Rockset is a real-time analytics solution that is used by developers to build modern data applications,” explained Venkat Venkataramani, co-founder and CEO of Rockset. “Now developers can move fast and have access to the speed, scale and simplicity of Rockset in a dedicated AWS VPC, while simultaneously meeting the highest data security and compliance needs.”
Examples of modern data applications Rockset customers are building include real-time personalization and recommendation engines on e-commerce sites, real-time supply chain logistics and delivery tracking systems, gaming leaderboards, fraud detection systems, health and fitness trackers, social media newsfeeds and more.
One of Rockset’s customers, FinBox, an Indian embedded finance startup, is delivering a seamless way to build user-centric FinTech products using Rockset. "Our platform is enabling the next generation of FinTech products such as embedded finance and personalized credit products delivered through a seamless API. Security and data localization is paramount for us as we operate in a regulated space," said Rajat Deshpande, CEO of FinBox. "Rockset's new private VPC deployment model opens a new world of possibilities for us. We can now deliver apps for our customers without data leaving our VPC in India, thus meeting the strictest regulatory requirements. The Rockset managed private VPC deployment gives us the best of both worlds - high data security and no ops.”
Built by the creators of RocksDB, Rockset automatically builds a Converged Index™ on any data — including structured, semi-structured, geographical and time series data — for high-performance search and analytics at scale. It supports real-time SQL queries on semi-structured data, so for the first time ever, developers have the flexibility to build features that search, aggregate and join any type of data from any source on the fly. When combined with serverless operations, it is a game-changing approach to making real-time analytics fast, flexible and easy.
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About Rockset
Rockset is a real-time database in the cloud, built by a team of industry veterans with decades of experience in web-scale data management and distributed systems at companies including Facebook, Yahoo, Google, Oracle and VMware. Rockset is backed by Greylock and Sequoia. For more information, go to rockset.com or follow @RocksetCloud.
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