Qubole Raises $30m for Expansion

In the US, data-as-a-service (DaaS) company Qubole has closed a $30m Series C round of funding, which it will use to expand availability of its self-service platform for big data analytics.

Qubole's cloud-based platform processes huge volumes of unstructured and structured data, while offering features such as auto-scaled big data clusters, and integrated tool sets for data analysts, developers and business users. The firm was founded in 2011 by Ashish Thusoo (pictured) and Joydeep Sen Sarma, creators of Facebook's big data infrastructure and Apache Hive.

New funding was led by IVP, with support from existing investors CRV, Lightspeed Venture Partners and Norwest Venture Partners, and brings the total raised to date to $50m. The firm says it will use the new financing to target several new verticals, including Internet of Things (IoT), life sciences and retail. It will also target larger enterprises that are accelerating their usage of the cloud; and expand its customer acquisition efforts in the APAC and EU regions.

Web site: www.qubole.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.