New Funds for Starburst Triple Company Value

Boston, MA-based 'analytics anywhere' firm Starburst has raised $250m in a Series D round of funding, nearly tripling the company's valuation to $3.35bn.

Starburst provides an analytics engine for clients' data warehouse, data lake, or Data Mesh (which it describes as a new approach to data management based on distributed data and treating data as a product). Through this technology, the firm promises to make data fast and easy to access anywhere, and instantly actionable. This means avoiding the need for an organisation to move and centralize its data prior to analyzing it, which the firm says is 'unachievable' with businesses unable to wait for data movement and copies.

New funding was led by Alkeon Capital, with participation from Altimeter and B Capital Group, as well as existing investors Andreessen Horowitz, Coatue Management, Index Ventures and Salesforce Ventures. The round brings Starburst's total financing to date to $414m, and follows its $100m Series C round in January 2021. New funds will be used to ramp up operations.

Justin Borgman (pictured), CEO and co-founder of Starburst, comments: 'Starburst streamlines data access and analytics across silos, clouds and business lines, enabling organizations to become truly data driven. Today's financing is a reflection of our continued growth and 'workhorse' mentality, from achieving profitability in our first two years of operation to tripling customer adoption in the past twelve months.'

Web site: www.starburst.io .

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