UPDATED 09:00 EST / DECEMBER 15 2016

BIG DATA

Big Data software startup Databricks pockets $60 million in Series C funding

Databricks Inc., the company that spearheads the development of the popular Big Data platform Apache Spark, has just snagged its largest funding round to date.

The company has just announced its closed on a $60 million Series C funding round led by New Enterprise Associates, which led its previous Series B funding round in June 2014. Existing investor Andreessen Horowitz also participated in the round, which brings Databrick’s total funding to $107.5 million.

Big Data is a big deal for enterprises these days, and companies such as Databricks are itching to help them process that data. Databricks’ approach is to simplify everything by moving companies’ data to the cloud to reduce management headaches, while leveraging Apache Spark’s fast data ingestion capabilities to speed things up. The company said in an accompanying press release that the new funds will be used to expand key areas including product development, customer success, sales and marketing.

“Apache Spark has enabled countless enterprises and cutting-edge early adopters to create business value through advanced analytics solutions,” said Ali Ghodsi, Databricks’ cofounder and chief executive. “As Spark’s adoption and the demand for our managed Spark platform continues to rise, this funding will advance our engineering and go-to-market strategies to address all of our customer’s pain points as we continue to grow the Spark community.”

The cash infusion comes at a time when Apache Spark is enjoying rapid growth in the public cloud, as evidenced by Databricks’ annual Spark survey that polled more than 1,600 members of the Apache Spark community from more than 900 organizations. The results, while potentially self-serving for Databricks, showed that Spark deployments in the public cloud had risen from 51 percent in 2015 to 61 percent in 2016. The company further claims that Apache Spark is now the most active Big Data-focused open-source project, with more than 1,000 contributors from 250-plus organizations.

“In 2016, we witnessed an acceleration in data processing workloads moving to the cloud,” said Pete Sonsini, a general partner at NEA. “With its product vision and deep Spark expertise, Databricks is well-positioned to further drive this revolution. We are excited to partner with the team as they take their next-generation cloud data platform to broader markets.”

Ghodsi appeared on SiliconANGLE’s TV show theCUBE at Spark Summit East 2016 earlier this year, where he discussed how his company is approaching the market for Big Data software and services for large enterprises:

Image courtesy of Databricks via Twitter

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