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Tesora Ken Rugg
Ken Rugg Tesora

Tesora nets $4.5 million to build out its database service

Jun 25, 2015

Tesora, a Cambridge, Mass.-company building a business around Trove, an open-source database for the OpenStack crowd, just netted $.4.5 million in fresh funding.

The company, once known as Parelastic, changed its name and its focus early last year. Up till then the company was all about making the popular-but-limited MySQL (orcl) database more flexible and scalable. Since then it's focused on the OpenStack-oriented Trove database, and providing it as a service to businesses.

Other companies in this field include Cloudant, another Boston-area company which bought by IBM (ibm) right around the same time Parelastic morphed into Tesora.

The new investment represents a "financial endorsement of a technology that's making strides in enterprise and business computing," Tesora founder and CEO Kenneth Rugg told Fortune via email.

"Database-as-a-service is in demand and is big business. The two fastest growing services on Amazon [fortune-symbol="AMZN"] after launch were DBaaS products DynamoDB and RedShift," he noted. The issue now is that big companies want to run similar products in private clouds, but it's not easy to do so. Tesora will solve that problem, he said.

Rho Canada Ventures joined existing backers General Catalyst, CommonAngels, Point Judith Capital and some others. Total funding now stands at $13.2 million.

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