Data Lake Startup Dremio Hits $2 Billion Valuation With Latest Funding

January 25, 2022

Series E round of $160 million comes just one year after the company’s last round and brings its total funding to more than $421 million.

Data lakehouse platform developer Dremio has raised $160 million in a round of venture funding that puts the big data startup’s pre-money valuation at $2 billion, the company said Tuesday.

The Series E funding round comes as the Santa Clara, Calif.-based company says it has “achieved breakout velocity” by doubling its revenue for several years in a row and has accelerated its hiring in the last year, the company said in a statement. Dremio lists such companies as Airbus, Goldman Sachs and Unilever as customers.

Dremio develops SQL data query software based on Apache Arrow, an open-source development framework for in-memory analytics. With the increasing use of data lakes for data science, data engineering and data analytics tasks, Dremio has positioned itself as a data lake engine platform provider.

Read the full article here on CRN.

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