GridGain Systems, an IT firm with customers in the energy, agricultural, biotechnology, and applied research industries raised more than $10 million in series B funding. GridGain’s new in-memory computing initiatives specialize in low-latency database solutions for operations management in data-heavy business sectors.

Geoff Baehr, a Managing Partner at new investor Almaz Capital, commented that, "GridGain is addressing a real need in a rapidly growing big data market. Due to this market growth, the company is making tremendous traction.”