Database optimization startup EverSQL acquired by Finland’s Aiven
Database optimization startup EverSQL acquired by Finland’s Aiven
The Israeli company, which has been bootstrapped since it was founded three years ago, aims to transform and automate database performance analysis through the use of AI
Three years after its establishment, Israeli startup EverSQL, which developed an AI product to optimize database performance, is being sold to Finnish giant Aiven. The amount of the transaction was not published. Recently, Aiven received a $3 billion valuation when it raised $420 million from, among others: Atomico, Earlybird, Eurazeo, IVP, Lifeline, Salesforce Ventures, and World Innovation Lab.
EverSQL was a finalist at Calcalist’s StartUp+ competition in 2021.
With businesses relying on data to power the applications and systems underpinning decision-making, customer experiences and operational efficiencies, the importance of data has grown and the supporting infrastructure has become more complex. Aiven provides a toolkit organizations can use to deploy data-centric applications while solving the challenges of managing the data infrastructure.
EverSQL was founded by CEO Oded Valin and CTO Tomer Shay and hasn’t raised any external funding to date (bootstrapped). Its goal was to transform and automate database performance analysis – through the use of AI – to speed up applications and free up time for innovation. The company’s popularity has grown quickly, with more than 100,000 software engineers in 90 countries using the solution to optimize their workloads on top of a variety of databases.
The acquired company, according to its founders, is profitable and records significant revenues every year since its establishment. The company, which has just three employees, will now hire additional staff. The negotiations for the purchase of the Israeli company began prior to the war with Hamas, but the deal was signed over recent days.
By integrating EverSQL’s AI-powered optimization engine into Aiven’s open source platform, Aiven customers will receive automated, personalized and actionable insights to help fine-tune their data architecture. This is set to result in optimized data workflows, improved performance and lowered costs.
“EverSQL has quickly established itself as a leader in the use of AI to automate the process of database performance optimization,” said Oded Valin, EverSQL Co-Founder and CEO. “As a part of Aiven, EverSQL will be able to deliver autonomous optimization capabilities to even more companies globally and rapidly expand the offering through integration across Aiven’s leading data platform. My fellow EverSQL Co-Founder and CTO Tomer Shay and I are both excited to set up and grow the team dedicated to developing AI-powered optimization capabilities at Aiven.”
Oskari Saarenmaa, CEO of Aiven, said: “EverSQL brings us industry-leading, AI-powered database optimization capabilities which, when combined with Aiven’s open source cloud data platform, is a unique offering for companies that want to capture more value from their data. Our services are complementary and aligned to a shared goal – to simplify the management of data infrastructures to unleash innovation. I’d like to welcome the talented EverSQL team to Aiven and I am looking forward to collectively delivering even more support, value and capabilities to our combined customer base.”
