BaltCap, a leading venture investor in startups in the Baltics region, has signed a €1 million investment in Clusterpoint, an enterprise software startup created by Latvian programmers and backed by seed investors in the UK and Baltics.
Clusterpoint has built a database platform designed for cloud computing infrastructure which they claim is highly scalable. They are competing against open source solutions such as MongoDB.
Clusterpoint’s database software is aimed at providing better performance on modest hardware – this means bigger cost savings and energy-efficiency in data centres. The company says it has initial customers and revenue and will use BaltCap’s investment to expand internationally, including hiring senior management in the US.
Speaking at our TechCrunch Baltics event today in Riga, Latvia, Gints Ernestsons, Clusterpoint’s co-founder and CEO, says customers like Clusterpoint because reduces the number of search transactions required to access relevant data.
The platform comprises natively scalable NoSQL database software with integrated full-text search in structured and unstructured data.
Mārtiņš Jaunarajs, Investment Director at BaltCap, says they think Clusterpoint can scale into an international business. We’ll be watching.