PALO ALTO, Calif., July 20, 2021 /PRNewswire/ — ScaleGrid, a leading Database-as-a-Service (DBaaS) provider with its headquarters in Palo Alto, CA and with offices in Bangalore, India and Vancouver, Canada, today announced a growth equity round led by private equity firm Spotlight Equity Partners to support its growth in the managed databases market. ScaleGrid provides fully managed database hosting solutions for MySQL, PostgreSQL, Redis™, MongoDB® Database and Greenplum on both private and public clouds. The managed database market is a rapidly expanding market, and, according to Gartner, is expected to account for 50% of the total database management system market revenue by 2023. Gartner also projects that by 2022, 75% of all databases will reside in the cloud.
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