- The company raised cash in two phases. The initial investment, a seed investment sponsored by Redpoint Ventures, was followed by a Series A investment led by Quiet Capital.
- DragonflyDB has created a competing database, Dragonfly, which it claims is up to 25 times quicker than Redis. In addition, according to the firm, their database is more hardware efficient.
DragonflyDB Inc., a startup with an in-memory database meant to accelerate corporate applications, has obtained USD 21 million in investment.
The company raised cash in two phases. The initial investment, a seed investment sponsored by Redpoint Ventures, was followed by a Series A investment led by Quiet Capital. The funds will be used to improve the company’s database.
Several applications store the data they utilize most frequently in a customized database called an in-memory store. Typically, the in-memory store is quicker than the application’s primary database. Thus, frequently accessed data may be retrieved faster than would otherwise be feasible, enhancing workload performance.
Redis, an open-source system, is one of the most extensively utilized in-memory databases on the market. DragonflyDB has created a competing database, Dragonfly, which it claims is up to 25 times quicker than Redis. In addition, according to the firm, their database is more hardware efficient.
Oded Poncz, Co-founder and Chief Executive Officer, stated, “Dragonfly was designed so that any engineering team, not only the ones with the most resources, can deliver this type of experience. Dragonfly uses asynchronous, multi-threaded processing to fully utilize the hardware’s computing, memory and networking resources.”
According to DragonflyDB, a single database instance can process up to 3.9 million requests per second. The startup claims that Redis only handles 150,000 queries per second. In addition, the company asserts that producing a snapshot, or backup copy, of a Dragonfly instance may be accomplished up to 12 times quicker. It states that the speed of its database is the product of several performance enhancement measures.
Databases frequently receive many concurrent queries. In rare instances, one of the requests might impede the fulfillment of the others. Dragonfly may begin executing a question even if the preceding query is not yet completed, preventing instances in which a single request impedes execution.
Dragonfly’s system used for managing cached data is another factor in its speed.
An in-memory database keeps its applications’ most frequently accessed records in a cache for quick access. Because the application needs to evolve over time, the database must often alter which cached entries are retained. According to DragonflyDB, Dragonfly operates more precisely and with fewer hardware resources than Redis, accelerating application performance.
According to the business, the database’s efficiency provides a second benefit: memory savings. It can do certain computations with less processing capacity than competitors due to its performance optimizations. As a result, the database can devote more processing power to compressing its entries. According to DragonflyDB, in some circumstances, its compression methods enhance memory consumption by 30% to 60%.
In connection with the introduction of Dragonfly 1.0, the most recent version of the business’s database, the company announced recently that it has received fresh capital. The release introduces various new dependability and data management capabilities.
DragonflyDB will update its database with the new money. It intends to enhance support for other workloads and improve the user experience as part of this initiative. In addition, it plans to release a managed version of the database that will facilitate its adoption by enterprises.