Dremio Expands Funding to $45M with Additional Funding from Cisco Investments
Co-Founders of Apache Arrow Disrupt Data Analytics Market with Data-as-a-Service Platform
Mountain View, Calif., – July 31, 2018 – Dremio, the Data-as-a-Service Platform company, announced today an investment from Cisco Investments, extending the company’s Series B financing to $30 million. The company previously closed their Series B round in January 2018, led by Norwest Venture Partners with participation from existing investors Lightspeed Venture Partners and Redpoint Ventures. This brings the total amount of funding raised to $45 million.
This investment comes on the heels of continued growth and momentum for Dremio. The company now has more than 70 employees after more than tripling employee count in 2017. Over the last year, Dremio has added customers in more than 80 countries, spanning over a dozen industries from financial services and healthcare to retail and technology. Leading organizations, including Daimler, Fred Hutch, Idio, Intel, OVH, Royal Caribbean, TransUnion, and UBS are using Dremio’s Data-as-a-Service Platform to get more value from their data, faster.
“Dremio’s product vision and technology continue to be validated by the market and are underscored by our rapid growth and the relationship with Cisco Investments,” said Tomer Shiran, co-founder and CEO, Dremio. “We are proud that Cisco Investments has recognized Dremio’s disruptive technology, and we look forward to working together and bringing Dremio’s unique approach to Cisco’s customers.”
Dremio transparently enables unprecedented time-to-insight and unlike traditional approaches, which require building a data warehouse, data marts, or proprietary extracts, Dremio connects any analytical process to any data source and scales from one to 1,000 plus servers, running in the cloud, in Kubernetes, or in a Hadoop cluster. Dremio’s open source Data-as-a-Service Platform, helps analysts and data scientists work together to discover, curate and collaborate for diverse analytical use cases. It builds on Apache Arrow to dramatically accelerate queries on a range of data sources, from S3, ADLS, and HDFS to NoSQL and relational databases.
“Data has become the most valuable asset for most companies, but putting data into the hands of analysts and data scientists remains a challenge, particularly as data has increased in volume and become trapped in many different systems and technologies,” said Rob Salvagno, vice president of Corporate Development and Cisco Investments. “Dremio has helped address this challenge with its unique approach to make data self-service, for business analysts and data scientists, without burdening IT. Our investment in Dremio reflects our mission to create more value for our customers, specifically in software for data analytics – a key area of focus.”
As the co-founders of Apache Arrow, Dremio recently launched a new Apache-licensed open source technology, The Gandiva Initiative for Apache Arrow. Apache Arrow was created by Dremio to provide the core data building block for heterogeneous data infrastructures and tools, including Spark, Python, R, BI, RDBMS, NoSQL, and file systems. Arrow is now the de-facto standard for in-memory analytics, with more than 150,000 downloads a month and adoption across a diverse range of projects.
Dremio is the Data-as-a-Service Platform company. Created by veterans of open source and big data technologies, and the co-founders of Apache Arrow, Dremio is a fundamentally new approach to data analytics that helps companies get more value from their data, faster. Dremio makes data engineering teams more productive, and data consumers more self-sufficient. For more information, visit www.dremio.com.
Founded in 2015, Dremio is headquartered in Mountain View, CA. Investors include Lightspeed Venture Partners, Redpoint, and Norwest Venture Partners. Connect with Dremio on GitHub, LinkedIn, Twitter and Facebook.
Winkowski Public Relations