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SQL data lakehouse company Dremio has closed a $160 million series E funding round, bringing the company’s valuation to $2 billion.
The preemptive fundraising round, led by Adams Street Partners, comes soon after its $135 million round last year led by Sapphire Ventures just one year ago. Total funding is now $410 million. The investment will help Dremio accelerate its technology innovation, grow its customer-facing organisation, contribute to open-source initiatives, and invest heavily in educating and enabling a growing community of data lake practitioners.
Dremio says it has achieved breakout velocity, doubling revenue for several years in a row, accelerating hiring of employees in the past year, and acquiring some of the biggest enterprise brands in the world, while working closely with its strategic partners such as Amazon, Microsoft, and Tableau. With this investment, it says it is poised for hypergrowth in the years to come.
Read the full article here on Blocks & Files.