This morning MapR announced that it has closed a $30 series C financing led by Mayfield Fund, a Menlo Park, CA-based VC that invests almost exclusively in early-stage startups. Existing backers Lightspeed Venture Partners, NEA and Redpoint Ventures also participated in the round, which puts the company’s total funding at $59 million.
MapR says that the capital will be used to fuel its expansion in the Asia Pacific region, boost operations in Europe, and maintain strong investments in research and development. One of the company’s top projects is Apache Drill, an open-source distributed analytics engine that scales exceptionally well in large enterprise environments.
“By delivering on the promise of Hadoop, MapR has propelled big business to embrace Big Data,” said Navin Chaddha, the Managing Director of Mayfield Fund. “We are honored to partner with the world-class MapR team, which has built a proven technology platform that is being embraced by customers and partners. With the large market opportunity for Big Data, estimated by analysts to reach $5 billion by 2016, we believe that MapR is in a great position to emerge as the Big Data platform of choice for enterprises.”
This latest round of funding is a big win for the company, which is facing increased competition from Cloudera, Hortonworks and other rivaling Hadoop distributors that are elbowing each other for market share.
Earlier this month Hortonworks announced that it has appointed an analytics super star to lead its product strategy. Bob Page, the startup’s newly hired vice president of products, has worked with data for nearly two decades. Cloudera also made headlines recently when it debuted the latest version of its flagship Hadoop platform, which features a native backup solution and augmented data protection capabilities.
Latest posts by Maria Deutscher (see all)
- Analysis: Cisco steps up Docker battle with ContainerX acquisition - August 30, 2016
- IPO shelved? LogRhythm raises $50M amid public offering rumors - August 30, 2016
- Glint bags $27 million for its HR analytics platform - August 30, 2016