In-Q-Tel invests in big data analytics company
- By Matthew Weigelt
- Sep 26, 2014
In-Q-Tel, the CIA’s investment arm, has put an undisclosed amount of money into MemSQL, a big data analytics company based in San Francisco. The investment is expected to generate more market opportunities, particularly in the intelligence community.
MemSQL’s in-memory distributed database technology is designed to let clients quickly capture, store and query hundreds of terabytes of data.
“In-memory databases have been rapidly gaining market acceptance as more organizations aim to deal simultaneously with both the volume and velocity aspects of Big Data. However, real-time operational control for clusters was a void in the market that MemSQL has successfully filled,” Eric Frenkiel, CEO and co-founder at MemSQL, said in a statement Sept. 24 about the investment.
In-Q-Tel’s investment “reflects the deep interest in big data analytics that we’re seeing among several industries, including federal,” Frenkiel also said.
The financial terms of the deal were not disclosed.
Matthew Weigelt is a freelance journalist who writes about acquisition and procurement.