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Data lake startup Dremio hits $2B valuation with latest funding.
Dremio, a startup developer of data lakehouse software, hit it big this week when it raised $160 million in a Series E round of funding that boosted the company’s valuation to $2 billion. The company has now raised a total of $421.5 million.
The latest funding comes as the Santa Clara, Calif.-based company says it has doubled its revenue every year for several years in a row, accelerated its hiring, and has “achieved breakout velocity” in its target markets.
Cloud data warehouse service provider Firebolt was also a winner in venture funding this week, raising $100 million in a round that pegged the Tel Aviv-based startup’s valuation at $1.4 billion – impressive for a company that’s competing with such cloud giants as Snowflake and Amazon Web Services.
Read the full article here on CRN.