WALTHAM, MA and MENLO PARK, CA--(Marketwire - Jan 25, 2012) - Battery Ventures today announced it has invested in Continuuity, a Big Data startup born out of the firm's Entrepreneur-in-Residence (EIR) program and founded by Battery EIR Todd Papaioannou. Andreessen Horowitz, Ignition Partners, and several prominent angel investors including Bob Pasker, Matt Ocko and The Data Collective, and Paul Ambrose, also participated in the round.
Continuuity's goal is to enable the development of the next wave of real-time Big Data applications. The company is currently operating in stealth and plans to use the capital to accelerate engineering and product development.
"While relational databases have been the foundation for the applications that have shaped IT for the last 30 years, we believe that Continuuity will enable the next generation of application innovation," said Battery Ventures General Partner Sunil Dhaliwal. "We've been privileged to have Todd on board for the past several months and are thrilled to be backing a graduate of the Battery EIR program. Having lived and breathed Data for the past decade, Todd is charged up to build the next real game changer in this space."
Todd joined Battery Ventures as an EIR in August 2011 to identify new opportunities in Cloud Computing, Big Data, and Digital Media. For over a decade Todd has been building Data platforms and applications, and has held a number of senior leadership roles at leading cloud and data analytics companies, including Chief Cloud Architect at Yahoo!, VP Architecture and Emerging Technologies at Teradata, and Chief Architect at Greenplum Inc. (formerly Metapa Inc.).
"Having been around Big Data for so long, I've spent a lot of time thinking about what the next wave will look like, and it's truly rewarding to see the response our vision for Continuuity has received from investors and customers so far," said Todd Papaioannou, Continuuity founder and CEO, and Battery EIR. "We are excited for the release of our first product and look forward to reshaping how the world capitalizes on Big Data."
To hear more from Todd on trends in Big Data and working with Battery watch this video.
About Battery Ventures
Since 1983, Battery has been investing in technology and innovation worldwide. The firm partners with entrepreneurs and management teams across technology sectors, geographies and stages of a company's life, from seed, start-up and expansion financing, to growth equity and buyouts.
Battery has supported many breakthrough companies around the world, including: Airespace (acquired by Cisco), Akamai Technologies (IPO), Angie's List (IPO), Anobit (acquired by Apple), Cbeyond (IPO), LIFFE (acquired by Euronext), Groupon (IPO), ITA Software (acquired by Google), MetroPCS (IPO), Netezza (acquired by IBM) and Skullcandy (IPO). Its current portfolio includes emerging and more established firms such as Bazaarvoice, Calxeda, Cumulus Networks, ExactTarget, Guidewire, Marketo, Opscode, VSS Monitoring, XtremIO and Zerto.
From offices in Boston, Silicon Valley and Israel, Battery manages nearly $4B in committed capital, including its current fund of $750M. For more information, visit www.battery.com.