Arcion, a data replication company, has raised $13m in a series A funding round led by Bessemer Venture Partners with participation from Databricks. The platform provides data migration, replication and analysis tools that allow businesses to replicate production databases in real-time between platforms, ensuring consistency between data stores and mapping schema and data between database environments. Arcion have over 100 deployments across three continents and a customer base that includes financial institutions and Fortune 500 brands, and moves 150 terabytes of transactional data every month.
Data replication has become increasingly important as more businesses adopt digital tools during the pandemic, and organizations were turning to data replication services even before Covid-19 as their databases expanded in size and complexity. According to a 2018 Unisphere Research survey, 83% of companies employ data replication for disaster recovery and offloading non-critical workloads. IDC estimates that the market for data replication and protection software in 2019 was worth $9.4 billion.
