Datameer raises $19M to keep up with “exploding” demand
Datameer, a provider of data analytics solutions for business users, announces this morning that it has bagged $19 million in a Series D financing round led by Next World Capital, an expansion-stage VC that that also backs Cassandra distributor DataStax and hybrid array maker NexGen Storage. Workday, Software AG and Citi Ventures also participated, alongside previous investors Redpoint Ventures and Kleiner, Perkins, Caufield & Byers. NWC’s Ben Fu is joining the Datameer board. The San Mateo, Calif.-based firm has raised a total of $36.2 million to date.
The company said that it will use the new funding to expand into new markets and meet “exploding enterprise demand” for its software, which is used by over 130 major brands including Visa, Sears and British Telecommunications. The platform provides self-service analytics and data visualization on top of Hadoop, enabling everyday business analysts to extract insights without having to go through a statistician. This translates into faster decision making and ultimately competitive advantage.
“Datameer is unquestionably leading the massive shift to next-generation BI as enterprises re-platform their data warehouses to include Hadoop-based architectures,” said new board member Fu in a statement. “Datameer has a highly differentiated analytics solution and the only one of its kind to run natively on Hadoop. We are eager to see Datameer penetrate new markets around the world with the help of our European Advisory Network.”
Datameer tripled its size in the past year, accelerating product development along the way. In June, the company introduced Smart Analytics, an easy to use use machine learning toolkit that can “identify patterns, relationships, and even recommendations” based on unstructured information. The offering includes capabilities for sorting information, correlating loosely related data sets and generating product recommendations.
Since you’re here …
Show your support for our mission with our one-click subscription to our YouTube channel (below). The more subscribers we have, the more YouTube will suggest relevant enterprise and emerging technology content to you. Thanks!
Support our mission: >>>>>> SUBSCRIBE NOW >>>>>> to our YouTube channel.
… We’d also like to tell you about our mission and how you can help us fulfill it. SiliconANGLE Media Inc.’s business model is based on the intrinsic value of the content, not advertising. Unlike many online publications, we don’t have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.The journalism, reporting and commentary on SiliconANGLE — along with live, unscripted video from our Silicon Valley studio and globe-trotting video teams at theCUBE — take a lot of hard work, time and money. Keeping the quality high requires the support of sponsors who are aligned with our vision of ad-free journalism content.