$70m Funds for Data Transformation Firm Dremio

Data curation software firm Dremio has raised $70 million in a Series C round of equity finance. Funds will be used to fuel the expansion of the company's product capabilities, and its go-to-market and engineering operations.

The Santa Clara, CA-based firm was founded in 2015 by two former employees of MapR, and now has about 100 employees. Its virtualization toolkit is used to integrate relational databases in Hadoop, NoSQL and other formats, allowing interrogation via SQL queries to gain business intelligence. Dremio's searchable catalogue of physical and virtual datasets gives users transparency into how data is being transformed and combined. The cloud-based tools are available in an open source Community edition or a commercial Enterprise edition.

The latest round, led by Insight Partners with participation from Lightspeed Venture Partners, Redpoint Ventures, Norwest Venture Partners and Cisco Investments, follows a $30m Series B in 2018 and brings the total to date to around $115m.

CEO Billy Bosworth (pictured) says Dremio's annual recurring revenue grew more than 3.5 times in the last year. The firm is online at www.dremio.com .