On this day last year, Couchbase became a publicly traded company. This significant milestone reflected the team’s hard work and consistent track record of success. In the time since we completed the IPO, we have achieved so much together including welcoming some outstanding new people to our World Class team, bringing Capella and other platform innovations to market and adding great new customers–all of which contributed to our accelerating growth.
While we are proud of what we accomplished, we are equally if not more proud of how we did it. Our commitment to making tomorrow better than today for customers, partners, the community and each other is as strong as its ever been. Our Values are deeply rooted and continue to resonate, as evidenced by best workplace accolades. Our market opportunity is still massive at $60B and is growing, primarily driven by cloud which now represents nearly 50% of the total database market revenue.
I am excited about the team’s many achievements in our first year as a public company, which reinforce our strong position as the modern database for enterprise applications. What has me even more excited is what the future has in store. It’s a phenomenal time to be a cloud database company. Digital transformation initiatives continue to receive the highest levels of investment and prioritization across organizations. Applications are the bridge between the physical and digital worlds, and every application relies on a database.
Capella is the fastest multicloud database-as-a-service that offers built-in application services so customers can easily create always on and always reliable apps. With Capella, we are well positioned for the generational market opportunity as organizations accelerate both modernizing their apps and building innovative net new ones. You can try out Capella for free by visiting this page.
We’ve never moved this fast on the innovation front, have an exciting roadmap ahead of us and are more aligned than ever as we go-to-market. I can’t wait to see what value Couchbase will create in the years ahead as we further extend our modern database. The best is yet to come for BASE as we play to win, together!