Big Data-as-a-Service Company Qubole Closes $30 Million Series C Financing
January 26, 2016
Big Data-as-a-Service company Qubole has announced it recently closed a $30 million Series C financing. Qubole, which has headquarters in Mountain View, California, United States, bills itself as a company that “greatly simplifies, speeds and scales big data analytics workloads against data stored on AWS, Google, or Azure clouds”. It caters for companies (including Oracle and Pinterest) in a number of industries with services that pull together the diverse range of data generated by companies to produce actionable intelligence. The latest round of investment brings the total investment in the company to $50 million to date.
The investment was led by Institutional Venture Partners (IVP), whose head office is in Menlo Park, California, United States. IVP’s General Partner Somesh Dash now joins Qubole’s Board of Directors. The investment will enable the company to extend the availability of its Qubole Data Service (QDS) big data analytics platform. The company will also establish new data engines to offer customers greater choice of data analytics tools. Qubole will also extend its efforts in APAC and EU and aim to acquire larger companies as customers.
"As more data is created in the cloud than on premise, enterprises need a complete big data solution that can provide SQL, machine learning, real-time analytics and batch processing in the cloud that is also self-service and operationally simple to manage," explained IVP’s General Partner Somesh Dash on the IVP website. "Qubole's platform is already being used by innovative customers with unprecedented data needs, and has proven to be the most comprehensive, easy-to-use and economical solution available. IVP was impressed by the quality of the management team, the size of the market opportunity and the strong traction to date. The company is poised for explosive growth and we couldn't be more excited about becoming shareholders."
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