New Funding Values Data Firm Dremio at $2 billion

Data curation software firm Dremio has raised $160m in a Series E round of funding, valuing the company at $2 billion. Funds will be used to accelerate innovation, to grow the company's customer-facing team, and to educate a community of data lake practitioners.

Santa Clara, CA-based Dremio, which was founded in 2015 by two former employees of MapR, claims to eliminate the need to copy and move data to proprietary data warehouses or create cubes, aggregation tables and BI extracts, which it says provides flexibility and control for data architects, and self-service for data consumers. The company's virtualization toolkit is used to integrate relational databases in Hadoop, NoSQL and other formats, allowing interrogation via SQL queries for business intelligence.

The new funding round is led by Adams Street Partners with participation from existing Dremio investors: Sapphire Ventures, Insight Partners, Lightspeed Venture Partners, Norwest Venture Partners and Cisco Investments, as well as new investors including StepStone Group and DTCP. Billy Bosworth (pictured), CEO of Dremio, comments: 'Our solutions allow you to run lightning-fast queries directly on your data lake. They work whether you have data sources in multiple clouds, on-prem, and/or in other SQL databases, and that is what customers find so compelling - we meet them wherever they are in their journey'.

Web site: www.dremio.com .

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